Hormel Foods Gives Nearly $5 Million In Bonuses

AUSTIN, Minn. (AP) — The holidays just got a little merrier for some 19,500 employees of Hormel Foods Corp.

The Austin company dished out $4.9 million in bonuses this week to its workers. Each employee got a check for $250.

The Austin Daily Herald reports Hormel CEO Jeff Ettinger says the bonuses were given to employees for their hard work during the past couple years in helping the company achieve its strong performance in tough economic times. Hormel’s fourth-quarter net income rose 17 percent.

Just last month Hormel distributed a record $16 million in profit-sharing to its employees.

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 This material may not be published, broadcast, rewritten or redistributed.)

  • Mary Elaine Bissell Krenik

    As a special treat, they should also do a bit of profit-sharing with their producers. Without the producers operating at a loss during those tough economic times, Hormel wouldn’t be experiencing any profit at all.

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