CEO Gives Employees $240 Million In Bonuses And Everyone Who Just Quit Is Pissed
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Basically, Graham Walker sold his family business Fibrebond Corp for $1.7 billion (a million million) dollars but put aside $240 million (just a million) dollars from that sale to pay every one of his workers about $443,000 each.
But imagine being the guy who sees the sale on the horizon, your contract’s about to run out, you’ve got another potential job offer and you’re like, yeah, it’s 100% time to jump ship. And then just DAYS after you leave it all behind you hear that everyone got almost half a million dollars??
I’d be pissed.
Or what about the contract workers, the people just on the fringes of qualifying for whatever conditions you need to get this bonus? Tough brakes, man.
OK, but don’t get annoyed on behalf of these hypothetical people you’ve never met, just yet, because there’s one massive string attached to this deal that’s so big it’s more like a noose.
To get this massive payout, you have to stay on at the company for another five years.
FIVE YEARS?! That’s a death sentence! In five years I could be the CEO. I’m not going to be but I could. I’m just saying it’s a long time is all. Is it really worth the money?
The reasoning is of course so people don’t immediately quit and retire to a carrot farm, but as Fortune puts it, this has to be “one of the largest—and stickiest—retention packages in recent memory.”
A rare CEO W. We’ll take it. Be more like Graham Walker guys.
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