Hormel Hands Out $16.3M In Profit-Sharing Checks

AUSTIN, Minn. (AP) — Hormel Foods Corp. has distributed a record $16.3 million in profit-sharing to its plant employees, including workers at its Austin plant.

The Austin-based maker of Spam and Dinty Moore canned beef stew passed out the bonus checks during its 72nd annual profit-sharing day Wednesday.

Checks were compiled based on 2.2 regular week’s pay.

Hormel employee Maribel Mendoza tells the Austin Daily Herald the money helps out a lot with bills and Christmas shopping.

Hormel said this week that its fourth-quarter net income rose 17 percent on better prices for turkey and lower grain costs.

(© Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

One Comment

  1. Kyle.H says:

    bout time they give back to us workers

  2. yo says:

    Wish Boston Scientific would do this

  3. Chris says:

    Thats because the Prison population is up, and them Gov contracts are great.

  4. Sharon Bowers says:

    Way to go Hormel! More companies need to follow your lead.

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From WCCO | CBS Minnesota

The Leaderboard
Good Question

Listen Live