ByteDance to exit gaming sector by closing down Nuverse
Credit: ByteDance
TikTok owner ByteDance will give high-performance employees extra bonuses in a move to boost morale, according to Chinese media outlets citing the company’s internal email. Employees with performance ratings above “M,” the fifth of ByteDance’s eight standards for performance classifications, are expected to earn incentives ranging from 5% to 15% in the form of stock options or restricted stock units. The short video operator does not publicly disclose its workplace numbers, but the latest layoffs from its Slack-like Feishu unit affected around 1,000 employees, following the cut of hundreds of jobs late last year as ByteDance retreated from the gaming sector. The additional payments will be awarded on April 25, with staff eligible as long as they are still employed on that day, the email said. [Southern Metropolis Daily, in Chinese]
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