NEW YORK CHAPTER

Fast fashion giant Shein is considering an IPO on the London Stock Exchange, potentially valuing the company at $66 billion (£51.7 billion). Known for its cheap clothes and social media campaigns, Shein has faced criticism over environmental practices and labor conditions. The company, which may file the necessary paperwork this week, is seeking a UK listing after encountering regulatory hurdles in the US, aiming to boost its green credentials and expand its resale platform to the UK and Germany.

L’Oréal has launched its fourth Employee Share Ownership Plan, allowing employees in 63 countries to purchase shares and participate in the company's growth. The plan, introduced in 2018, has seen over 37,000 employees participate, reflecting their commitment and confidence in L’Oréal's future. Employees can buy shares at a discounted price with an employer contribution, and the shares will be blocked for five years, with the subscription period running from 5 June to 19 June 2024.

Vox reported that OpenAI pressured departing employees to sign restrictive exit documents by threatening to withhold vested equity, a practice uncommon in Silicon Valley. Despite claims of ignorance by OpenAI leadership, internal documents suggest key executives, including CEO Sam Altman, were aware of these provisions. Following backlash, OpenAI has apologized and committed to changing their policies, including removing nondisparagement clauses and ensuring former employees' equity rights are respected.

Morgan Stanley at Work's fourth annual State of the Workplace Financial Benefits Study reveals a growing demand for equity compensation among employees and HR leaders at both public and private companies. The study highlights that equity compensation is a top driver of employee engagement and retention, with 95% of HR leaders and 80% of employees recognizing its motivational impact. However, awareness and education gaps persist, as only 38% of employees are aware of these benefits, indicating significant opportunities for companies to enhance their equity compensation education programs.