Tencent told staff that promotion won’t necessarily lead to pay raise

Tencent told staff that promotion won’t necessarily lead to pay raise

Tencent told employees that it has revised its pay practices so that not all promotions will immediately lead to pay raises, according to a memo sent to staff and seen by Chinese media outlet Jiemian on Tuesday. The Chinese social media and gaming giant added that it will consider other factors in pay decisions, such as contributions to the company and how competitive the current salary is, in addition to a job promotion. The move follows several rounds of layoffs across the company to mitigate the impact of an ongoing economic downturn, regulatory curbs, and international trade tensions. [Jiemian, in Chinese]


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Author: admin