![]() ![]() Going forward, we are designing a compensation program to ensure that performance is what drives differences in pay-even in the face of stock volatility. Over the past year, we've seen significant differences in the value of equity compensation driven by someone's start date and the volatility in our stock price. As announced yesterday, current market conditions have led to an additional element in this year's approach - a one-time equity top-up program for our 2021 stock-eligible hires. All employees who started at DoorDash before Octowho participate in our upcoming annual performance and compensation cycle are eligible for base pay and stock increases based on performance rating and market benchmarking. ![]() Our compensation model is designed to reward employees for the impact you have. That is due to our employees' talent and hard work. We have confidence in where we're going because of our ability to execute our strategic vision and deliver results for our customers. Shopify recently increased base salaries for employees amidst the company's continuing stock slide.īelow is the email DoorDash executives sent to employees in February:Īs Tony expressed in our All-Hands yesterday, we all have shared ownership in building DoorDash. The downturn in many tech stocks has set off similar complaints across the industry and forced companies with particularly weak stock prices to react. "We designed this top-up so that employees realize competitive total compensation." "We recognize that with the volatility in the market, employees can see significant variation in realized compensation," DoorDash told Insider in a statement. At a previous all-hands meeting CEO Tony Xu said that DoorDash is "not for everyone," referring to the stock fluctuations. That slide has set off grumbling among some DoorDash employees who've expressed frustration at a number of changes the company has made in its compensation structure. It was a largely symbolic moment, but at the time it spoke volumes about DoorDash's strong performance in the food-delivery space, while Uber's ride-hailing business struggled to return to its pre-pandemic levels.īoth companies have slid since then, but DoorDash's shares are off far more-50% versus 18% for Uber. On September 16, the company was valued at $74.9 billion, inching above competitor Uber's market cap. "Going forward, we are designing a compensation program to ensure that performance is what drives differences in pay-even in the face of stock volatility," the executives wrote, according to a copy of the email viewed by Insider.ĭoorDash's stock has seen a sharp change in fortunes since the fall. They noted that these workers have been hurt more by the recent stock sell-off, compared with colleagues who joined the company before its public offering in late 2020 and got pre-IPO stock. In an internal email from February, DoorDash executives said the company would be issuing an equity "top up" grant to many staff hired in 2021, to compensate for a sagging stock price. The company said internally it plans to issue some employees extra equity to make up for losses on a stock that's plunged more than 50% since its peak last November. Other tech companies with depressed shares have had to offer better pay or extra equity grants to mollify staff.ĭoorDash executives plan to address its stock woes and issues around employee compensation in an all-hands meeting next week, according to a source familiar with the matter.DoorDash stock is off more than 50% since its November peak.DoorDash plans to offer some employees extra equity to compensate for its sliding share price. ![]() Account icon An icon in the shape of a person's head and shoulders. ![]()
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