TikTok Parent ByteDance to Hand Out Cash Bonuses to Staff Amid US Pressure

TikTok proprietor ByteDance stated on Tuesday it will hand out money bonuses to staff working to assist it “overcome challenges posed by the COVID-19 pandemic and changing macro environment”.

Full-time staff who’ve labored for 26 or extra working days between July to August can be given a bonus price half their August base wage, in line with a letter from ByteDance to its staff that was seen by Reuters.

“Thank you for your hard work and dedication,” the letter says. ByteDance has stated it has over 60,000 staff globally.

The bonus may run into a whole bunch of tens of millions of yuan, based mostly on ByteDance’s hiring commercials and firm sources.

ByteDance confirmed the letter however didn’t present particulars.

ByteDance has come beneath international scrutiny amid issues about TikTok’s assortment of non-public knowledge and censoring of political content material. The United States has stated it is going to ban the short video app except ByteDance sells the app’s US operations amid rising tensions between Washington and Beijing.

ByteDance has stated the Chinese authorities doesn’t have any jurisdiction over TikTok content material.

TikTok has additionally confronted challenges in India, the place it was amongst dozens of Chinese apps banned in June following a border conflict between the nations.

“The TikTok team and especially the deal team have been working day in and day out,” an organization supply stated, including employees morale at TikTok had been hit by the worldwide challenges in addition to the departure of its CEO Kevin Mayer who quit after simply three months.

ByteDance founder and CEO, Zhang Yiming, stated in an earlier letter that the employees had been working “endless hours” amid the encircling “noise”.

ByteDance’s money bonuses, which come as many corporations face monetary strain resulting from COVID-19 and a slowing financial system, was on Tuesday among the many most mentioned matters on Maimai, China’s model of LinkedIn.

Late final 12 months, Chinese telecoms large Huawei additionally stated it will hand out CNY 2 billion (roughly Rs. 2,153 crores) in money rewards to employees as a mark of recognition for work within the face of a US commerce blacklisting.