What's up with employee-owned companies/co-ops? How does it compare to a strong union?
Easyreever @ Easyreever @lemmy.world Posts 0Comments 24Joined 2 yr. ago
Easyreever @ Easyreever @lemmy.world
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A lot of times it takes the form of an ESOP. IMHO, it usually founders trying to cash out from the company. There is still usually a board and CEO, however shares are owned by the employees. The ESOP companies I’ve been involved with did not sell voting shares to employees, which to me was disenfranchising. The benefit was that you had shares and stake in the company, so if the company did well, you did well, however cashing out was tightly controlled.
I suppose they could be great and hope that everyone else has better experiences but to me, I see an employee-owned company and I tend to think it’s a farce.