Salt Labs Creates the First Relief Fund for Clients Affected by Blueboard's Abrupt Shutdown

NEW YORK, March 18, 2024 /PRNewswire/ -- Salt Labs, a modern employee rewards solution for frontline workers, today announced the creation of the first relief fund for the hundreds of thousands of workers recently affected by the sudden shutdown of San Diego-based Blueboard, an experiential employee recognition platform.

This relief fund is reserved for Blueboard client employees who have pre-funded rewards that can no longer be honored due to the company's unanticipated closure on March 12, 2024. Salt Labs has allocated $20,000 to employees at affected companies, who had either already redeemed a reward experience or who were due to redeem an experience in the near future. This will help enable these employees to retain continuity of their earned reward and to allocate their Salt toward the redemption of something of similar value, from financial products to memorable experiences within Salt's carefully curated collection.

"Employee rewards are a critical part of the employee experience. We are saddened by the news of Blueboard's surprise shutdown, which has adversely affected many companies and their employees" said Jason Lee, founder and CEO of Salt Labs. "We have established this industry-first Relief Fund to provide companies and their employees fulfillment of earned rewards."

Former Blueboard client companies who want to be considered for participation in the relief fund should fill out a form on the Salt Labs website, or email [email protected] no later than Wednesday, March 20, 2024 at 6:00 p.m. ET. Employers with a large population of frontline and hourly workers will be prioritized in the consideration process. Accepted employers will receive an allocation of Salt to disburse to their affected employees based on unfulfilled Blueboard redemptions and an ability to exchange that Salt for rewards in the collection.

For more information, please contact [email protected].

About Salt Labs
The mission of Salt Labs is to enable frontline workers to own the long-term value of their work. We envision a future where workers can capture the value of their work beyond their hourly wage, leading to long-term wealth creation and a more engaged workforce. To achieve this mission, we've built a first-of-its-kind earned loyalty asset that leads to higher levels of retention and productivity.

Salt Labs was founded in late 2022 by a team that includes repeat founders Jason Lee and Rob Law, who founded DailyPay, a $2bn HR and FinTech company.

SOURCE Salt Labs, Inc.