CEO gives $37m bonus to employees after company is sold, Latest World News - The New Paper

CEO gives $37m bonus to employees after company is sold

This article is more than 12 months old

The chief executive officer of a food delivery company in Turkey generously paid out US$27 million (S$37 million) to 114 employees after selling the firm for US$589 million.

The bonuses are worth US$237,000 on average, a windfall to the very happy employees, reported CNN Money.

This is about 150 times the normal monthly salary at the company where employees typically earn between US$1,000 to US$2,000 a month, reported Business Insider.

Mr Nevzat Aydin, co-founder and CEO of the company, Yemeksepeti, said his employees deserved to benefit from the company's sale to Germany's Delivery Hero.

"Yemeksepeti's success story did not happen overnight and many people participated in this journey with their hard work and talent," he told CNNMoney.

The CEO wanted to reward his employees for building the company with their hard work and talent.

The amount of bonus each employee received was based on their performance, their length of employment at the firm, and their "future potential in the company," Mr Aydin said.

Only those who had been with the company for two years were eligible.

The startup was launched 15 years ago by Mr Aydin and three colleagues.

It now has 370 employees, delivering over three million meals every month.

It was reported that many employees were crying from happiness when Mr Aydın broke the news to them.

Mr Nedim Nahmias was emotional when he received the bonus.

He started as a call centre operator 10 years ago before working his way up to become chief operating officer.

He knew about the payout plans but had no idea of the amount.

"The conversation became very emotional for both of us," he said.

"This bonus package is life-changing for many of us."

Mr Nahmias, who recently got engaged, would not say how much he was paid.

"Let's just say the money I received will cover many potential expenses of a soon-to-be-married couple," he said.

'This bonus package is life-changing for many of us."

- Mr Nedim Nahmias, who said his bonus would cover many expenses as he recently got engaged.