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Uber China team to get 6 months base salary and equity vesting as bonus
After China's ride-hailing market leader Didi Chuxing confirmed Monday that it will acquire Uber's business in China, Uber China held a staff meeting in the evening, announcing that the company will pay a cash Close Bonus in recognition of Uber China team's contribution, according to a report by technology media site tech.sina.com.cn,
The bonus will be valued at 6 months base salary and 6 months equity vesting that includes new hire grants, performance bonus and referral bonus.
The company said half of the bonus will be paid in cash within one week after the merger closes and the remaining half will be paid to employees one month after the closes.
Only employees who have worked with Didi or Uber for at least 30 days after the signing of the deal are qualified to receive the remaining half of the bonus.
Didi's acquisition of Uber China's business will give Uber a 5.89 percent stake in Didi, and Didi will also gain a stake valued at $68 billion in Uber's global business.
Apart from Uber's chief executive officer Travis Kalanick's blog post, Uber China officials have not commented on the acquisition yet.
dacare This entry was posted on August 2nd, 2016 at 02:59:59 pm by dacare and is filed under News of China.