BEIJING/SHANGHAI (CHINA) – Chinese firm ByteDance, which owns popular short-format video application TikTok, announced on Tuesday that it would distribute cash bonuses to staff working to help it “overcome challenges posed by the COVID-19 pandemic and changing macro environment”.
Bonus will be given to full-time employees who have worked for 26 or more days between July and August. It will be equivalent to half their August base salary, according to a letter from ByteDance.
“Thank you for your hard work and dedication,” says the letter. The firm has more than 60,000 employees globally.
In an earlier letter, ByteDance founder and CEO, Zhang Yiming, said the employees had been working “endless hours” amid the surrounding “noise”.
ByteDance’s cash bonuses come at a time when many firms are facing cash crunch because of the pandemic crisis.