News Snapshot:
BEIJING :TikTok owner ByteDance told employees on Thursday it planned to lay off staff in its education business and close some of its tutoring operations, after China imposed sweeping regulations on the sector, two sources with knowledge of the matter said. China last month issued rules barring curriculum-based tutoring for profit, aiming to ease financial pressures that have contributed to low birth rates but have left private education firms facing significant business impact. ByteDance will lay off some teachers, sales and advertising staff in the education unit and will shut its curriculum-focused preschool and K12 tutoring businesses in China to...
