Shulou(Shulou.com)11/24 Report--

CTOnews.com, Nov. 5 (Xinhua)-- after delaying IPO, US fresh ecommerce company Instacart will start handing out its first company-wide cash bonuses in December to motivate employees, according to the Wall Street Journal.

The cash bonus is a shift in Instacart's efforts to reward and retain employees, the report said. The company has traditionally increased employee retention by issuing equity incentives.

CTOnews.com learned that Instacart told employees last month that it was unlikely to go public this year because of volatile market conditions. Instacart CEO Fidji Simo said at the time that the company would offer a special cash bonus to reward employees and was looking for other ways to give them value.

Employees received bonus terms late last week and are expected to receive a 40 per cent bonus on December 9 and the rest will be paid in June 2023, according to some people familiar with the matter. If Instacart goes public before the bonus date, employees will still receive bonuses, they said.

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"it is reported that US fresh ecommerce company Instacart has cancelled its IPO plan due to market turmoil."

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