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.
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