Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
TikTok, a social media platform with millions of subscribers worldwide, announced that it will cut 500 jobs in Malaysia and close the Dutch moderation office, affecting 300 jobs in the Netherlands.
The most prominent reason why these jobs are being cut is because TikTok wants to use AI for content moderation instead of employees, as 80% of harmful content is now removed automatically. Another reason for these jobs cuts in Malaysia is because the Malaysian government has decided that every big social media platform needs a license. This is necessary in order to have stricter guidelines for online content, according to the government. Despite increased AI usage, TikTok says human moderators remain necessary for interpreting nuanced and culturally specific content.
TikTok is a social media platform with millions of subscribers worldwide. It has headquarters across the world.
Eurofound (2024), TikTok, Internal restructuring in Netherlands, factsheet number 201789, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201789.