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.
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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