Tiktok owner Bytedance has announced a cash bonus for its 60,000 employees across the Globe that is almost a half-month’s salary.
The company has faced a ban in India and banning threats in the US over it’s ties to China. However, It is planning to sell Tiktok’s US assets to avoid prohibition.
A Bytedance representative confirmed the memo, “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. “To thank everyone for their efforts and dedication, we will be issuing a cash bonus to all eligible employees,” it said, adding that it will pay out the bonus together with September’s salary to any full-timer who’s worked at least 26 days between July 1 and August 31.
Before the Bonus announcement, The CEO Zhang Yiming mentioned in a companywide letter that employees had been working “endless hours” amid the surrounding noise of Tiktok’s uncertain Future.
“Over the past few months, we have been working together to overcome challenges posed by COVID-19 pandemic and changing macro environment”.
ByteDance said in the memo, obtained by Bloomberg. “To thank everyone for their efforts and dedication, we will be issuing a cash bonus to all eligible employees.”
However, Tiktok and Bytedance are in a major controversy regarding its headquarters in China and Donald Trump’s decision not to continue with Tiktok in America. The future of Tiktok is uncertain and the userbase of 100M in America is about to slip as Bytedance decided to sell its US Assets.
In India, The App got banned because it was considered as the threat to national security. Indian Government banned the app along with many other Chinese based Applications.
Similar circumstances can be witnessed in America. The app is considered a threat to country’s security and thus Donald Trump is about to impose a ban.
Moreover, there are many renowned names in the race of being stakeholders for Tiktok’s assets such as Microsoft, Oracle, Walmart and Softbank.