AUSTIN, Minn.–(BUSINESS WIRE)–Hormel Foods Corporation (NYSE: HRL) today announced the largest annual profit sharing in company history to be distributed to employees. More than $15.9 million is being dispersed to eligible hourly and salaried employees during the Thanksgiving Eve Day tradition.
The multinational marketer of consumer-branded food and meat products continues to stand out in the industry for retaining its profit sharing plan. This program was started by Jay C. Hormel in 1938 and is voluntarily paid at the discretion of the companys Board of Directors.
Recognizing our employees for their contribution to the companys success is an important aspect of our heritage, said Jeffrey M. Ettinger, chairman of the board, president and chief executive officer at Hormel Foods. It is exciting to honor our team members for delivering great-tasting products to our consumers through this 71-year-old program.
Source: Hormel Foods