Palantir Revises Compensation to Save Cash, Prep for Future IPO

Palantir Technologies Inc., a data mining company co-founded by Peter Thiel, is changing its employee compensation in a bid to cut costs, ensure all employees can own shares and prepare for an eventual public stock listing, said three people familiar with the matter.

The company, which helps governments and businesses collect and analyze data, will move toward eliminating cash bonuses and instead reward staff with restricted stock units, said the people, who asked not to be identified discussing internal matters. The change was conveyed to staff in an email Friday.