The compound bitwise OR operator (|=) is often used with a variable and a constant to "set" (set to 1) particular bits in a variable.
x |= y;   // equivalent to x = x | y;

x a char, int or long variable y an integer constant or char, int, or long First, a review of the Bitwise OR (|) operator
0  0  1  1    operand1
0  1  0  1    operand2
----------
0  1  1  1    (operand1 | operand2) - returned result

Bits that are "bitwise ORed" with 0 are unchanged, so if myByte is a byte variable,
myByte =| B00000000 = myByte;

Bits that are "bitwise ORed" with 1 are set to 1 so:
myByte | B11111111 = B11111111;