TikTok owner ByteDance will regroup its main businesses into six new business units, according to an internal memo that was made public on Tuesday. News aggregator Toutiao, Xigua Video, and search engine Baike will be merged with Douyin, the Chinese version of TikTok. Dali Education, the company’s edtech unit which has been hurt by the country’s recent online tutoring crackdown, will now oversee vocational learning services and employee development. Zhou Shouzi, currently chief executive officer at TikTok, will step down as ByteDance’s chief financial officer to focus on his duties at the short video app. [TechCrunch]