Kuaishou, a Chinese short video platform, announced on Thursday an adjustment of its employee benefits through an internal letter. The firm expressed the hope that through this adjustment, employees can better balance work and family, and resolve various challenges at present more flexibly.
The adjustment mainly involves the following aspects. From February next year, the rental subsidy can only be received by ordinary employees with less than three years of working experience. In addition, Kuaishou will cancel free afternoon tea and free meals. A free physical examination plan for employees’ parents and a leave of absence for employees to accompany their parents were introduced. Cash gifts for female employees with children were newly added, ranging from 1000 yuan to 3,000 yuan ($157-471).
Recently, some Kuaishou employees posted messages on Chinese professional networking site Maimai, saying that the firm began to persuade low-merit pay employees to quit in December. However, Kuaishou did not respond to this tipster. Previously, Chinese internet companies such as Alibaba and iQiyi have carried out large-scale layoffs. The difficult market environment of the internet industry this year has forced many enterprises to reduce costs and increase efficiency through layoffs.