Aug 03, 2016

    Bonus for Uber China workers after merger


    AFTER China's ride-hailing market leader Didi Chuxing confirmed on Monday that it will acquire Uber's business in China, Uber China held a staff meeting in the evening.

    It announced that it will pay a cash Close Bonus in recognition of Uber China team's contribution, according to a report by technology media site

    The bonus will be valued at six months base salary and six months equity vesting that includes new hire grants, performance bonus and referral bonus.

    The company said half the bonus will be paid in cash within one week after the merger closes and the remaining half will be handed out one month after the merger 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 per cent stake in Didi. The latter will also gain a stake in Uber's global business.

    Apart from Uber's chief executive Travis Kalanick's blog post, Uber China officials have not commented on the acquisition yet.