SpiceJet has expanded its employee equity ownership plan (ESOP) programme to include select mid-level employees as well as “essential resource” staff in recognition of their contributions to the company during the COVID-19 crisis, according to sources.
The term “critical resource staff” refers to a group of individuals who are difficult to replace.
Employees who participate in the ESOP plan receive company shares that vest over time.
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SpiceJet’s ESOP scheme had previously only been available to top managers.
According to reports, the airline sent an e-mail to selected mid-level and vital resource employees saying, "In the last three years, you have all been excellent and displayed remarkable dedication and resilience."
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