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Not exactly. Galois employees are beneficiaries of the ESOP trust that owns the shares, rather than direct owners as in a prototypical cooperative.
by nyssos 2y ago
Not exactly. Galois employees are beneficiaries of the ESOP trust that owns the shares, rather than direct owners as in a prototypical cooperative.
- nextos 2y agoSure, my understanding was that Galois is not exactly a co-op. Why this structure? Is it more advantageous in the US?
- s1artibartfast 2y agoOne of the main challenges for co-ops is navigating the entry and exit. If you had Direct employee ownership, you have to buy in when you start and sell your stock back when you leave. A trust with the employees as beneficiaries solves a lot of these problems. It also prevents the co-op members from taking the company public for a huge payday.
- HideousKojima 2y agoI'm pretty sure that's more or less the same structure used by WinCo as opposed to direct ownership