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RSS BotMB to Hacker NewsEnglish · 8 hours ago

No shares in company, but 550 employees received a $240M gift from their owner

economictimes.indiatimes.com

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No shares in company, but 550 employees received a $240M gift from their owner

economictimes.indiatimes.com

RSS BotMB to Hacker NewsEnglish · 8 hours ago
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No shares in company, but 550 employees received a $240 million gift from their owner for staying with him through tough times
economictimes.indiatimes.com
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More than 550 employees at a Louisiana manufacturing firm received a combined $240 million after the company was sold, despite holding no equity. The payout followed a decision by the owner to share 15 percent of sale proceeds with staff who stayed through layoffs, downturns and uncertainty. The bonuses, averaging about $443,000, rewarded long-term loyalty and transformed lives while boosting the local economy.

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