ByteDance shortens work hours and Kuaishou loses its CEO
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TikTok parent ByteDance is one of China’s first major tech companies to end its grueling 996 work culture — working from 9 a.m. to 9 p.m., six days a week:
- Employees can only work Monday to Friday, 10 a.m. to 7 p.m., unless they get advance permission to stay overtime — within limits, and with extra pay.
- Last month, in the latest protest of 996, several young interns circulated a spreadsheet (now inaccessible) where employees at major tech firms could share their hours.
Also relevant: Other changes are afoot at ByteDance’s short-video app Douyin and rival Kuaishou. While Douyin contends with near-stagnant growth in daily active users, numbering 640 million, Kuaishou has lost its top executive:
- CEO Su Hua has stepped down, though he remains chairman. The company said he intends to focus on the company’s long-term strategy.
- Kuaishou has had a rough few months. It shut down its U.S. app, saw slower-than-expected growth after spending $1 billion in overseas expansion, and is trading below its IPO price nine months after its $5.4 billion debut.
The context: Su is just the latest CEO to step down while citing “long-term strategy.” ByteDance’s CEO Zhang Yiming, JD.com’s president Richard Liu, and Pinduoduo’s Chairman and CEO Colin Huang gave similar explanations before vacating their positions earlier this year.
