It looks like Samsung has listened to Mark Cuban’s calls for the workers to get a cut of their employer’s $33 billion success.
This comes as the tech giant has introduced a new program which will see the firm grant payouts to its staff over three years based on the Samsung stock price, according to a report by Bloomberg.
Members of staff will also be given the option between having up to half of that payout given to them in shares instead of cash.
Prior to this decision, the only other time where regular workers received stock from Samsung was when the firm gave everyone in the company 30 shares in a one time gift as part of a union deal.
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But it looks like things could be about to change after businessman Cuban spoke out to say that it is time for workers to get a cut of their employer’s success.
Taking to social media, Cuban wrote in a post on X, formerly Twitter, that wealth levels are increasing ‘because the stock market has gone straight up’.
He continued: “You know who is funding the increase, particularly lately? Retail investors. 401ks.
“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?”
In a report by South Korea’s main public broadcasting service, KBS, it detailed how Samsung will allocate between 200 and 300 shares to each member of its staff over the next three years, depending on their career level.
With the current market prices, 200 to 300 shares of the company would equate to between $13,768 and $20,652, meaning workers could be set to have a major payday.
Samsung isn’t the only tech giant making similar moves as Nvidia agrees to give 10% of its annual profits straight into bonuses for employees.
This is something Samsung labor unions are also pushing for, with them arguing that the firm should be giving bonuses of 15% to its workforce, according to the Bloomberg report.
It seems like other tech firms are way ahead of the game, with Intel conducting an enrolment twice a year where employees have the opportunity to buy stock up to 15% of their salary at a 15% discount, or at a maximum of $21,250 a year.
Apple allows its workers to get up to 25% of their salaries in stock at a 15% discount.