BEIJING: TikTok owner ByteDance told employees on Thursday that it planned to lay off teachers, sales and advertising employees in its education business after China imposed sweeping regulations on the private tutoring sector, two sources said.

ByteDance will also shut down its curriculum-focused preschool and k12 tutoring businesses in China to be compliant with the regulations, according to one of the sources and a third source. ByteDance did not offer immediate comment.

TikTok owner ByteDance's 2020 revenue soars, net loss at $45b