Hi Juul Employees, What are you going to do with your big tobacco values?
After Juul secured a massive, almost $ 13 billion deal with Big Tobacco, it was also revealed that employees of the vape company were receiving bonuses that could potentially reach in the multimillions.
A special $ 2 billion dividend was part of the $ 12.8 billion deal for Altria's minority stake in Juul and was named the company's approximately 1,500 global employees. If shared equally, they would see more than $ 1 million each. But the Wall Street Journal reported Friday, that's not how it will work; Instead, "employees will get $ 150 for each share or limited stock they own."
Employees over the past six months will receive payments based on the number of units that will have been six months from the date they start winning. Payouts will come for some employees as early as Christmas.
Besides, Juul offers storage packages. Each employee will receive a special bonus, which equals four times their regular bonus, and is paid out in four installments over the next two years. It may entice some employees to remain despite concerns about the startup's new alliance with a tobacco company, a current employee said.
Some employees who have been with the company since it spun from Pax Labs in 2017, look at the multimillion dollar payment day, though, according to Journal. That kind of money is nothing to savor, even though the bonuses seem to get rid of internal dissatisfaction with the deal that undermines Juul's ethos.
The company's CEO Kevin Burns said in May that Juul's mission was to "eliminate cigarette smoking throughout the world a smoker at a time." Following reports discovered by Juul's discussions with Altria, Juul employees had spelled as a "deal with the devil" "and said it would challenge the brand's stated mission.
But inflated bonuses seem to have reassured employee discomfort, at least to some extent, and the company seems to have sold the idea that the deal could build on its mission to get adult smokers out of cigarettes. The journal reported that Juul employees met on Thursday by Juul employees, as CEO Kevin Burns showed a mock-up of a Juul campaign put into a package of Marlboros marketing tools that the startup now has available. "
That $ 2 billion in selling money certainly seems to work its magic.
[Wall Street Journal]
