New York Factory Workers Stand To Strike It Rich
What does it mean to take a company "public"? I have no idea but if Chobani LLC decides to go public, it could mean a Lotto sized payday for approximately 2000 of it's loyal New York employees.
In 2016 Chobani founder Hamdi Ulukaya announced that he will give present and future full-time employees shares in the company worth nearly 10 percent of the value of the company's growth between that time and when he sells the company or takes it public. Well, it appears the company is laying the groundwork to do just that in 2021.
I am terrible at math. In high school I had a final grade of 32 in Algebra 1. As poor as my skills are I will try to attempt this. If the company's growth is $4 billion to $5 billion, employees could stand to earn $400 million to $500 million collectively. That would be approximately $250,000 per employee!
I have been very fortunate to have solid employers for the bulk of my working days but to to have this opportunity is wonderful for each of these employees. We need as many good stories as we can get in 2021.
According to Syracuse.com, Ulukaya said "This isn't a gift, It's a mutual promise to work together with a shared purpose and responsibility. To continue to create something special and of lasting value."
The very first Chobani factory was located in South Edmeston, New York. In less than five years after the launch, Chobani realized over $1 billion in annual sales and became the leading seller of Greek yogurt in America.
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