Hormel dishes out $16.5M in bonuses to employees

Austin-based Hormel gave out $16.5 million in profit sharing to its employees. The checks amounted to about two weeks of regular pay. The bonus checks were announced a day after Hormel released its fourth-quarter and annual earnings report.
Author:
Updated:
Original:

Austin-based Hormel gave out $16.5 million in profit sharing to its employees. The checks amounted to about two weeks of regular pay. The bonus checks were announced a day after Hormel released its fourth-quarter and annual earnings report.

Next Up

Karl-Anthony Towns

Wolves-Grizzlies game off, KAT tests postive for COVID

The Timberwolves star was among several players that are dealing with COVID-related issues.

minnesota state fair

Planning for the 2021 Minnesota State Fair is underway

The fair suffered huge financial losses due to COVID-19, but organizers are moving forward with planning "different scenarios" for this summer.

Screen Shot 2021-01-15 at 2.16.44 PM

Heather Brown named as new WCCO 'This Morning' anchor

She will be joining Jason DeRusha on the CBS affiliate's Morning Show.

DPS John Harrington

DPS Commissioner: No credible threats to state Capitol, but ready if something arises

Local and state law enforcement officials have a plan in case a threat arises.

snow, slush (submitted photo, ok to use)

Here are snow totals from Thursday-Friday winter storm

It's a slushy mess in the metro, but snow did pile up in southern counties.

tim walz

Walz fury after report that government's COVID vaccine reserve is nonexistent

The Washington Post reported Friday that the Trump Administration has shipped out all the vaccines it has already, with none in reserve.

closed sign

What's open and closed in Minnesota on MLK Day 2021?

Local government offices will generally be closed on Monday.

BMTN 900x450 (8)

Company that falsely promised student loan forgiveness banned from MN

It's also been ordered to repay $11,499 in fees taken from Minnesotans.

covid-19, coronavirus

Here is Minnesota's COVID update for January 15

Hospitalizations are the lowest in Minnesota since October 25.

Sars-Cov-2

Osterholm: B117 COVID strain could become major issue in 6-8 weeks

The B117 variant is believed to be more easily transmitted.

Related

Hormel hands out $16.5 million in bonuses

The company is sharing record profits with plant employees, who tell the Daily Herald that the annual event means a lot and helps around the holidays.

Higher expenses eat into Hormel's profits

The Austin-based company reports earnings for refrigerated foods were down 44 percent in the first quarter. Hormel says leaner profit margins for pork were a big ingredient in that. CEO and President Jeff Ettinger expects slowly improving results this year.

Hormel Foods 3Q net income soars 13%

Strong sales of Spam and Jennie-O products helped the Austin-based meat producer meet Wall Street expectations. Hormel's third quarter earnings rose to $111.2 million, or 41 cents per share, in the third quarter ended on July 29 compared to $98.5 million, or 36 cents per share, a year earlier.

Hormel 2Q profit jumps 17 percent to beat Wall Street predictions

The Austin-based food maker says strong demand for its Jennie-O products and Spam helped boost sales in the quarter that ended in April.

Screen Shot 2020-04-23 at 1.41.12 PM

Hormel Foods announces more bonuses for its plant workers

The Austin-based food giant already paid out bonuses in April.

Hormel Foods worker treated for tuberculosis

Workers at the Hormel Foods plant in Austin are being screened for tuberculosis after one employee there was identified with the contagious disease, KAAL TV reports. Tuberculosis is a health issue for the workers at the plant, but not a threat to food safety, the station reports.