![]() Some developed economies around the world are experimenting with the four-day work culture. Though some companies - including ByteDance, owner of the video-sharing platform TikTok - have cut compulsory weekend overtime, the issue remains a major one for most of China’s tech employees.Īt the same time, employees of other industries, such as real estate and finance have also joined the calls for a change in the “996” culture. ![]() His view was backed by Richard Liu, the chief of Chinese e-commerce company JD.com, who had called those opposing “996” “slackers” in April. At the time, he wrote that China’s economy was “very likely to lose vitality and impetus” if the system wasn’t there. Interestingly, Alibaba CEO Jack Ma had in April 2019 defended the culture of overwork, calling it a “blessing”. Protests have intensified after the government’s crackdown on tech companies such as Alibaba, which exposed the grinding work culture that employees are subjected to. The court observed that “adhering to the national working hour system is the legal obligation of employers” and said that workers deserve “rest and vacation”. In 2019, an online campaign was launched to raise awareness about the issue and attempt to reduce the pressure on employees.Ĭhina’s apex court called “996” illegal in a landmark ruling in August this year. Many in China have been voicing their opposition to “996” culture for a long time. “We hope to make a contribution to the boycott of ‘996’ and the popularisation of ‘955’,” Reuters quoted one of the creators of the campaign as saying on Zhihu, a Chinese social media site. Several employees are demanding the “955” culture, which is working from 9 am to 5 pm five days a week. It derives its name from the practice of working from 9 am to 9 pm six days a week. Shen said he decided to base the firm’s international operations in Singapore after coming to the city-state in August to talk to the Economic Development Board, Business China and local partners.The 996 culture Image: Courtesy of LYCS of major companies are protesting what is infamous as “996”. Regarding the company’s progress in Singapore since entering in 2019, Waterdrop has launched the international version of its crowdfunding platform named DeeDa locally. SEE ALSO: Medical Crowdfunding Platform Waterdrop Responds to Reports of 70% Fees The crowdfunding fee deducted by intermediaries on Waterdrop reached as high as 70%, one previous report showed. However, after the company went public in May 2021, several consecutive quarters of financial reports showed that its crowdfunding platform did not contribute to operating income. Its second-quarter revenue this year was 701.4 million yuan ($98 million), up 8.1% from the previous quarter.īy the end of the second quarter of this year, a total of 412 million donors had provided nearly 53.3 billion yuan to millions of critically ill patients through Waterdrop’s crowdfunding platform. Its business mainly includes crowdfunding, the insurance marketplace, and healthcare, and it hopes to cover enough people through this complementary business model. When necessary, the extension of working hours shall not exceed three hours per day and thirty-six hours per month.įounded in 2015, Waterdrop is dedicated to insurance and healthcare services. Labor law declares that, after negotiation with labor unions and employees, employers can add working time by a maximum of one hour each day based on operational needs. The demanding work culture has been criticized by all sides, and is illegal according to Chinese law. Programmers revealed internet companies that have implemented this working schedule. Widespread discussion about 996 started in March 2019 when a project called “996ICU” went viral on GitHub. Shen’s comments now reflect this attitude again. Judging from this internal slogan, overtime seems to have become part of the company’s culture. “Join Waterdrop, great company, exciting, 11.7 hours of average work time,” it said. “Do Chinese workers deserve 996?” one web user wrote.Īn internal promotional document of Waterdrop had previously been revealed. The executive’s comments were questioned by netizens as soon as they were posted. I haven’t promoted the 996 work culture in every country outside of China,” said Shen. “Chinese companies should respect the rules and obey the laws in every country. Shen said Waterdrop will cater to and integrate with local professional cultures, even if the pace of development is slightly slower than China’s. By this logic, Shen said, they cannot copy China’s prevailing “996” work culture – a 12 hours per day, six days per week working schedule. Shen Peng, the founder of Beijing-based insurance tech platform Waterdrop Inc., said at the FutureChina Global Forum in Singapore on October 7 that many Chinese companies see Singapore as the first stop for overseas expansion, and that localization is key for them to gain a regional foothold. ![]()
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