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.
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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.
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.
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.
A record year at Delta Airlines is coming back to Minnesota workers in the form of profit sharing. Not all of the state's 12,000 are eligible, but those who are will get a bonus of nearly five percent of their salary.
