The ByteDance logo is seen at the company's office in Shanghai, China July 4, 2023. REUTERS/Aly Song/File Photo Acquire Licensing Rights

Summary

Companies Pico to cut jobs with 'hundreds' of staff to be affected-sources

ByteDance has pared back efforts to develop Pico brand-sources

Multiple senior managers have left Pico this year-source

HONG KONG, Nov 7 (Reuters) – ByteDance's virtual reality (VR) arm Pico will cut jobs and undertake the biggest overhaul since it was acquired by the TikTok maker two years ago as global demand for VR headsets hits a trough, three people with direct knowledge of the matter said.

China's ByteDance to overhaul VR arm Pico as global demand declines -sources comes via ChinaTechNews.com.