ManhattanRailfan t1_jdj2j8r wrote
Ayy, workers coop. You love to see it.
Gdott t1_jdj7zoi wrote
No, they purchased it from the previous owner. Soon the other owners will be bought out and new employees will work for the new owner. It’s been this way forever.
[deleted] t1_jdjz8ri wrote
It's a bit different. This was made possible via Teamshares.
> Teamshares buys small businesses from retiring owners, grants 10% ownership of the business’s stock to employees after closing, and progressively increases employee ownership to 80% within 20 years.
Not a bad deal after all, if you think that the employees don't have to pay a dime.
foradil t1_jdjadj4 wrote
The article says "all employees were granted an initial 10% of the business". That means that only a minor fraction (10%) is employee-owned. Seems comparable to most tech companies, for example.
ManhattanRailfan t1_jdjj6bj wrote
Ah, bitch.
pa7uc t1_jdjkng3 wrote
if you read the rest of the article you would see that it will increase over time. :P
PonticPilot t1_jdvxu4e wrote
Increase to 80% within 20 years to be exact.
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