Uber China’s 800 employees are to be rewarded handsomely with six months base salary after Didi Chuxing’s acquisition, Uber China employees were told on Monday evening, during a company meeting.
Chinese tech blog Huxiu quoted a source close to the matter who provided a photo of what Uber China is calling a “Close Bonus”. Uber China will reward its team with six months base salary plus six months equity vesting, as long as they maintain employment by either Didi or Uber 30 days after the close of acquisition. Half the bonus will be paid within one week of close.
The Close Bonus reflects Uber China’s effort to retain its employees, at least before they become Didi employees, the note wrote.
Didi officially stated that, after the acquisition, “Uber China will retain its independent branding and operations, but Didi will integrate the managerial and technological experience and expertise of both companies”.
Despite the official statement, insiders doubt that Uber China will maintain independence after the acquisition, and think that Uber will repeat what happened to Kuaidi Dache.
Kuaidi Dache’s independence ended after its merger with Didi Dache last February. The merged entity Didi Kuaidi had stated that Kuaidi Dache would operate independently, Beijing Times had reported. But after the merger, Kuaidi gradually cut its operations, despite the booming Chinese ride-hailing market.
(Top photo from Baidu Images)