Ant Group Co. ‘s leader, regarding the dissatisfaction among employees, said the Chinese giant for financial technology will eventually become known and that the company will look for ways to help workers earn some of their shares.
In a long post on Ant’s internal website, Eric Jing, the executive chairman, said that the company’s management is reviewing its remuneration and incentive policies and is working on a ‘short-term liquidity solution’ for employees that will take effect in April. , according to people who have seen it. message. Mr. Jing responded to an employee who asked about Ant’s future and how the company plans to retain talent.
According to people close to the firm, the liquidity solution Ant is working on will likely be a program to buy back some of the employees’ shares. April is usually the month in which Ant awards discretionary annual bonuses to employees.
Employee morale has been low against Ant since Chinese regulators forced the company to suspend its initial public offerings in early November in Hong Kong and Shanghai.
Many of Ant’s more than 16,000 employees received compensation on shares, and they were on the verge of taking a windfall from Ant’s listing, which the company valued at more than $ 300 billion last year. This was a doubling of Ant’s valuation from mid-2018, when the company valued the last round of private fundraising at $ 150 billion.