TikTok-owner ByteDance plans to continue cutting costs as the firm’s revenue grew slower than expected, according to a Dec. 14 internal speech by the firm’s CEO Liang Rubo. Liang said that the company’s daily active user was growing slower than the company’s target set earlier this year, Chinese media outlet 36Kr reported. The firm’s overall headcount remained flat for the second half of this year. The speech was first reported by the Chinese media outlet China Star Market on Dec. 15, saying that Liang said that the cost management this time will be “milder” and that ByteDance will further develop its overseas e-commerce business. Since October, the firm has also started small staff adjustments in multiple departments, such as short-video platform Douyin, team managing platform Lark, and house-renting app Xing Fu Li, among others. [36Kr, in Chinese; China Star Market, in Chinese]