BEIJING (BLOOMBERG) - TikTok's Chinese parent has declared a rare half-month's salary bonus for employees, hoping to calm a 60,000-plus workforce across the globe as negotiations around the sale of the video service's US operations approach the Trump administration's September deadline.. Read more at straitstimes.com.
BEIJING - TikTok's Chinese parent has declared a rare half-month's salary bonus for employees, hoping to calm a 60,000-plus workforce across the globe as negotiations around the sale of the video service's US operations approach the Trump administration's September deadline.
While the Beijing-based startup is known for paying lavishly to poach experts in critical fields such as artificial intelligence, it's unusual for the firm to declare a handout in the middle of the year."Over the past few months, we have been working together to overcome challenges posed by the Covid-19 pandemic and changing macro environment," ByteDance said in its memo.
ByteDance's move contrasts with belt-tightening across scores of Asian startups from Singapore's Grab to India's Oyo. It echoes a handout from Huawei Technologies Co in 2019, another Chinese company in Washington's crosshairs. While the Commerce Department hasn't defined the scope of that executive order, TikTok's once-sizzling pace of growth is slowing, users are migrating to rival apps such as Triller, and Washington officials continue to label the app a security threat.
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