Chinese online P2P video service provider, download accelerator software developer, and online game operator Xunlei has reportedly seen staff departures from its technical department due to dissatisfaction with a recently implemented timecard system.
Xunlei senior managers previously announced that the company would implement a Silicon Valley-style management system, offering employees flextime allowing them to come into the office in the afternoon rather than the morning.
According to a current Xunlei employee speaking on the condition of anonymity, a number of colleagues have left since the Chinese New Year holidays, although it was not clear whether this was due to the new rules.
According to an industry source, Tencent (0700.HK) has responded to the rumors by increasing its attempts to poach Xunlei staff with salaries 50-100% higher than those they had at Xunlei. Since key Xunlei personnel have stock options, Tencent has offered additional compensation in exchange for them renouncing those options, resulting in several Xunlei engineers taking up Tencent's offer. A number of middle managers are among those leaving Xunlei.
A Xunlei representative said that no new rules have been issued regarding the technical department and that HR changes are a standard part of normal day-to-day operations, adding there is no truth to the rumors that new rules have prompted employees to leave. The representative said that all major companies conduct recruiting operations during the Chinese New Year holiday, which is the peak season for job hopping.