No shares in company, but 550 employees received a $240M gift from their owner (economictimes.indiatimes.com)

53 points by gfortaine 6mo ago ↗ HN

7 comments

[ 2.8 ms ] story [ 20.8 ms ] thread

lysace 6mo ago ↗

Better article:

Will be interesting to see how many of them have money left after 5 years

pcurve 6mo ago ↗

To be paid out over five years. A great retention bonus too for the new owner.

It's $240M total for all >550, to make the title less clickbaity.

Just because you misunderstood the title doesn't make it clickbait. It seemed pretty obvious that it was a total amount.

rib3ye 6mo ago ↗

The ultimate "trust me bro".

> Potential buyers and others warned against the idea.

> ... [the] Walkers froze salaries for several years amid the difficulties.

> [the CEO] wanted to do something good. He also worried about going to a local grocery store and feeling ashamed he hadn’t shared his windfall.

  > Instead of individual performance bonuses, the company introduced group incentives tied to safety and operational targets.

this is how it should be imo; focus on quality overall and other things fall into place