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Juul employees to get nice bonus


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https://www.msn.com/en-us/money/companies/juul-employees-to-get-2-billion-bonus-in-altria-deal/ar-BBRewv8?ocid=AMZN

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Employees of Juul Labs Inc. are getting a $2 billion bonus as part of a deal with Altria Group Inc. to take a stake in the startup, according to a person familiar with the matter, who asked not to be identified because the details are private.

The company has about 1,500 employees, meaning the bonus works out to about $1.3 million per person at the company. CNBC reported the news earlier Thursday.

 

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4 minutes ago, CitizenVectron said:

 

Yeah I highly doubt that each employee will be getting that much.

Yeah. While altria is a very good employer (they're based out of Richmond and I know of their benefits/pay/bonuses/perks) they're not that good of one. They pay well because their product kills thousands every year, and money makes that guilt go away. I know nothing about Juul. 

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1 hour ago, CitizenVectron said:

 

Yeah I highly doubt that each employee will be getting that much.

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Juul is paying a dividend of $150 per share to its investors as part of the arrangement, according to people close to the deal. That means that large Juul shareholders like Tiger Global Management will be paid $1.6 billion in cash, one person said — money that comes off the top of the $12.8 billion that Juul accepted in exchange for forfeiting 35 percent of the company.

Investors like Tiger aren’t giving up any shares for this payment, Recode is told. So not only are they receiving billions of dollars up front, they’ll still hold onto their stock in a company now valued at $38 billion instead of the $16 billion Juul was valued at this summer.

 

The payments to employees make some sense, at least: Some of Juul’s 1,500 employees were reportedly upset with the deal to sell out to the maker of Marlboro, given that Juul’s mission has been to lead people away from smoking traditional cigarettes, not to partner with their makers.

With that in mind, Juul decided to pay each employee something of an absurd holiday bonus — averaging out to more than $1 million each — to boost morale internally, according to a person close to the deal. It seems fair to assume that it will likely be attached to some retention clauses that keep Juul’s talent from looking for other jobs.

https://www.recode.net/2018/12/20/18150929/juul-altria-billions-dollars-dividend-shareholders-employees

 

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