Future employees of the new BrewDog pub coming to Lincoln could get a share of the profits made when it opens in the city. CEO James Watt announced the initiative for all BrewDog pubs in a video posted to his LinkedIn profile.
It’s to celebrate BrewDog’s 15th anniversary and the company has released a 13-page plan for how it will work going forward. It follows criticism and controversy over Mr Watt being accused of inappropriate behavior, which he strenuously denies.
As part of the announcement, all BrewDog employees will share 50% of the profits made by each pub. Salaried employees will also receive £30,000 worth of shares each year for the next four years.
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In the video, he says: “All of our BrewDog bars will now equally share 50% of their profits with the fantastic people who work in these bars. This is a whole new business model for the hospitality industry. “
Mr Watt added: “I’m taking a huge chunk of my own shares in the business, worth around £100million, and giving it to our team. Every salaried member of the team will receive approximately £30,000 worth of stock each year for the next four years.
“It’s about making sure we can win collectively and fully acknowledging the hard work of all of our team members in this business.” In March 2022, Mr Watt said the BrewDog pub would start work on the Lincoln “immediately”, but no official date has yet been announced.