TikTok, the popular social media platform known for its short-form video content, is joining the list of tech companies trimming jobs in the new year. The Beijing-based company, owned by ByteDance, has confirmed that it is laying off 60 workers in its advertising and sales unit. While TikTok did not provide a specific reason for the layoffs, it assured affected employees that they can apply for other open positions within the company.

With more than 150 million users in the U.S alone, TikTok has become a cultural phenomenon, especially among Gen Z and younger users. The platform's success has prompted the company to expand its services, including launching an e-commerce arm and marketplace in September 2021, allowing merchants to sell products on its platform.

However, TikTok's recent layoffs are not unique within the tech industry. Other major players, including social media platforms like Discord and Twitch, have also made job cuts. Twitch, which is owned by Amazon, announced earlier this month that it would be cutting over 500 jobs in an effort to reduce costs. Similarly, Discord laid off 170 employees, representing 17% of its workforce, to improve its agility.

Amazon's other businesses, such as Audible, Prime Video, and MGM Studios, have also faced layoffs. The global tech giant has been streamlining its operations to optimize efficiency and cut costs. Google, too, has made significant cuts to its workforce, letting go of hundreds of employees.

According to layoffs.fyi, a tech job tracking site, the tech industry has seen over 10,000 job cuts this year alone. The reasons behind these layoffs vary, with companies aiming to adapt to changing market conditions, improve profitability, or streamline operations.

As the tech industry continues to evolve and face challenges, it remains to be seen how these job cuts will impact the overall landscape. However, for now, TikTok and other companies are focusing on providing support to affected employees by offering them opportunities within their organizations.