ByteDance-owned short video platform TikTok is reportedly restructuring its business, with layoffs expected, according to a Wired report on Monday, citing five employees at the firm. TikTok’s business in the US, Europe, and the UK are all affected, as the firm has put expansion plans on hold. An employee told Wired that less than 100 people will be dismissed, an estimated 1% of the firm’s workforce. Wired quoted a statement from the firm’s spokesperson, saying that, “There are a small number of roles within the operations and marketing teams that shifted in focus, that can’t be called a ‘company-wide restructure.’” Launched in 2018, the app had 1 billion users in 2021, according to a press release from TikTok. [Wired]