Tuesday, October 20, 2020

TikTok parent gives bonuses to employees amid US pressure

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Beijing: ByteDance, the Chinese unicorn that owns TikTok, is offering a rare half-month cash bonus to boost staff morale amid pressure from the Donald Trump administration to quickly divest the short video-sharing platform’s US operations.

The bonus will come with the September salary of the employees, Global Times reported, citing ByteDance’s internal memo reviewed on Tuesday.

Those employees who worked full time for at least 26 days between July 1-August 31 will be eligible to receive the bonus, said the report.

“Over the past few months, we have been working together to overcome challenges posed by the Covid-19 pandemic and changing macro environment,” ByteDance was quoted as saying in the memo.

“To thank everyone for their efforts and dedication, we will be issuing a cash bonus to all eligible employees,” it read.

After India banned TikTok in June over national security concerns, the Trump administration increased pressure on the platform to quickly part with its US operations or face a ban in the country.

Several US companies including Walmart — in partnership with Microsoft — and Oracle are in the fray to purchase TikTok’s operations in the US.

ByteDance’s move to hand out a bonus to its employees comes as the September deadline set by Trump for the conclusion of the US deal approaches.

TikTok CEO Kevin Mayer announced his resignation in August, less than six months after his appointment to the role.

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