No slice of £10m shares for Deliveroo riders
Deliveroo, which has been tipped for expansion into three new locations in Northern Ireland, is to give its permanent employees £10m in shares - but the food delivery firm's army of riders will be excluded from the payout.
The move will see a majority of the company's 2,000 office staff receive an average of £5,000 in stock options. However, because Deliveroo delivery riders are classed as self-employed contractors and not permanent employees, they will be shut out of the award.
In a message to employees, Deliveroo founder and chief executive Will Shu said the share award was his "way of thanking staff at the company, a way of making sure this truly is our company in every way".
Workers will be able to cash out if Deliveroo floats its shares or if the firm is sold.
The company is valued at over $2bn.
Deliveroo, which has its global headquarters in London and operates in 12 markets across the globe, has also recently equipped 35,000 riders with free accident insurance.
Its fleet of self-employed cyclists already operate in Belfast but may branch out to Londonderry, Lisburn and Bangor.