For most employees, even the mention of a potential buyout can generate a great deal of stress and anxiety.
That’s because in general, employees tend to get the short end of the stick when their company is sold off to some other corporation. Besides the possibility of losing their jobs during restructuring, employees almost never see a dime from the sale of their company, as this money is typically split between the company’s founders and equity-holders.
Nevzat Aydin, founder and CEO of the Turkish online food ordering service Yemeksepeti.com, was never a fan of this business model. So when he sold his company for $589 million last May, Aydin made sure that his employees got a piece of the pie:
“We have shared $27 million of the money we earned with our 114 employees,”
he told Turkey’s Hurriyet Daily News in a recent interview.
That meant a payout of more than $200,000 to each employee. Aydin also made sure to cover the taxes on those payouts so that his employees could hold on to all of the money they were given.
“We did this because if there is a success, we have accomplished it altogether,”
His employees were floored by his gesture of generosity and gratitude. He described their reaction in his interview:
“Some employees cried, some screamed, some wrote letters of thanks… There were emotions, because you affect the lives of the people. People can buy homes, cars. They can immediately do something otherwise they could not with monthly wages of 3,000-5,000 Turkish Liras. It was a good thing; I wish we could have given them more.”
Read more from the Hurriyet Daily News.