Tencent changes its salary policy to slow the pace of pay rises in latest sign China tech jobs are losing their shine

Employees who receive a promotion are no longer entitled to an immediate salary increase, according to an internal letter seen by the Post. Tencent’s workforce numbered 116,200 at the end of March 2022, up from 112,700 at the end of December 2021. — SCMP

Chinese social media and gaming giant Tencent Holdings, which reported flat revenue in the first quarter, has adjusted its salary policy to make it harder for employees to receive pay rises, according to an internal letter seen by the South China Morning Post.

As part of the change, employees who receive a promotion are no longer entitled to an “immediate” salary increase, and the salary review process has been pushed back by a month from June to July, according to the letter. The authenticity of the letter was confirmed by Tencent employees.