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Eastridge Workforce Solutions to become employee-owned

September 17, 2019

Eastridge Workforce Solutions, a San Diego-based staffing firm, announced it is offering an employee stock ownership program to its internal and external workers.

The announcement stems from an idea by the business partners and leaders of Eastridge — brothers CEO Adam Svet and President of Technology and Management Jason Svet — after the passing of their father Robert Svet, who had led the family company.

“When we met as a family to discuss the path forward, we had one important question in mind: What would Dad have wanted? We knew the ESOP would be a fundamental way to preserve the culture we have all worked to create at Eastridge Workforce Solutions," Adam Svet said. “This is something he would have been proud of.”

Some 6,600 companies in the US have become ESOP’s according to Eastridge.

“We are incredibly proud of the sense of community we have built, and the announcement of the ESOP is our way of thanking our team for their hard work and dedication,” said Adam Svet.

The ESOP features a three-year vesting schedule, and the employees’ shares will be fully vested by then with no cost to them.

Eastridge has more than 300 internal workers and 18 offices across the globe. The company was founded in 1972.

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