The global tech giant will now award shares and bonuses based on stock price to its employees outside of just corner offices as a part of its latest move in salary adjustments.
Before this, the only other time regular workers ever got stock was when Samsung gave everyone 30 shares once as part of a union deal. Other than that one-time gift, this is the first time the company is offering stock awards to all staff. And the shift could mean a major payday for staff outside the C-suite.
The shift echoes what billionaire entrepreneur and investor Mark Cuban has been fighting for. Earlier this week, he expressed his frustration to employers about how wealth gains from soaring stock prices are only being made at the top.
“You know who is funding the increase, particularly lately? Retail investors. 401ks,” Cuban wrote. “The better question is, why are we not giving incentives to companies to require them to give shares in their companies to all employees, at the same percentage of cash earnings as the CEO?”
Fortune has contacted Samsung for comment.
Since then, Samsung’s labor unions want a piece of the wealth too. Pushing for something similar, they want the company to give 15% of its annual profits directly to a bonus pool for employees, according to Bloomberg’s report.
Compared to other tech giants, while many companies already offer stock ownership or profit-sharing, many cap what employees can get.
