Reuters ReutersHONG KONG (Reuters Breakingviews) - ByteDance is dancing to a different tune to keep stakeholders happy. TikTok's Chinese parent is spending up to $3 billion to buy back shares at a price that values the company at around $300 billion. It's extending an employee stock incentive programme for another 10 years and expanding the share pool. ByteDance has laid off staff https://www.linkedin.com/feed/update/urn:li:activity:6954853958813110272/ as part of a broader restructuring effort that has seen it back off from once-enticing segments like video games and online education. With growth set to slow further this year, ByteDance is paying up to keep the music playing.

Source: New York Times September 19, 2022 04:06 UTC