Business / Technology

Uber China team to get 6 months base salary and equity vesting as bonus

By Zhu Lingqing ( Updated: 2016-08-02 10:40

Uber China team to get 6 months base salary and equity vesting as bonus

Two mobile phones with the taxi-hailing and car-service apps Didi Chuxing and Uber are pictured in Hangzhou, East China's Zhejiang province, August 1, 2016. [Photo/IC]

After China's ride-hailing market leader Didi Chuxing confirmed Monday that it will acquire Uber's business in China, Uber China held a staff meeting in the evening, announcing that the company will pay a cash Close Bonus in recognition of Uber China team's contribution, according to a report by technology media site,

The bonus will be valued at 6 months base salary and 6 months equity vesting that includes new hire grants, performance bonus and referral bonus.

The company said half of the bonus will be paid in cash within one week after the merger closes and the remaining half will be paid to employees one month after the closes.

Only employees who have worked with Didi or Uber for at least 30 days after the signing of the deal are qualified to receive the remaining half of the bonus.

Didi's acquisition of Uber China's business will give Uber a 5.89 percent stake in Didi, and Didi will also gain a stake valued at $68 billion in Uber's global business.

Apart from Uber's chief executive officer Travis Kalanick's blog post, Uber China officials have not commented on the acquisition yet.

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