ByteDance has not confirmed the number of employees that will be affected by the layoffs. Credit: Jonathan Raa/NurPhoto via Getty Images.

China’s ByteDance will lay off staff at its Indonesian unit following its acquisition of local e-commerce company Tokopedia, Reuters reported. 

The TikTok maker bought a majority stake in Tokopedia from the GoTo group in January to combine it with its TikTok shop operation. 

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ByteDance has not confirmed the number of employees that will be affected by the layoffs in the e-commerce unit. Bloomberg previously reported that around 450 jobs would be cut by the company.

The company said it would be making “necessary adjustments” following the combination of TikTok and Tokopedia. 

“We identified areas to strengthen our organisation and better align our teams with company goals,” a company spokesperson said.

The move comes after the Indonesian Government forced the social media platform to close down its TikTok Shop e-commerce service in the country. 

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Indonesia banned online shopping on social media platforms in September last year over concerns about user data and smaller merchants missing out. 

The e-commerce market in Indonesia is continuing to grow at a rapid pace. The value of e-commerce sales in the country is expected to hit $44bn in 2024, according to Indonesia’s central bank. 

Despite the predicted rise in e-commerce sales, the value of e-commerce deals in the country peaked in 2021, according to GlobalData’s deal database.

In 2021, the value of e-commerce deals in Indonesia reached $15.5bn, considerably more than the previous year, which totalled $3.2bn.

In 2023 so far, the value of e-commerce deals has grown even smaller than 2020, with a total of 2.8bn.

According to GlobalData forecasts, the global e-commerce market grew from $2.5trn in 2016 to $5.9trn in 2022 at a compound annual growth rate of 15%.

By 2027, GlobalData expects the e-commerce market to be worth $9.3trn.