Hormel Foods Corporation distributed its annual profit sharing of $17.8 million to eligible hourly and salaried employees during its 77th annual Thanksgiving Eve Day tradition.
"Our company has achieved seven consecutive years of record earnings," said Jeffrey M. Ettinger, chairman of the board and chief executive officer at Hormel Foods. "These results are due to the tremendous efforts of our dedicated employees year after year. We are proud to share in the success of our company with our team."
"Our employees continue to produce and deliver safe, wholesome and high-quality products to our customers and consumers," said James P. Snee, president and chief operating officer at Hormel Foods. "Our profit sharing program is unique within the industry, and it is truly gratifying to be able to share our success with the Hormel Foods team."
Hormel Foods, a multinational marketer of consumer-branded food and meat products, continues to be among an elite group in the industry for retaining its profit sharing plan. The program was started by Jay C. Hormel in 1938 and is voluntarily paid at the discretion of the company’s board of directors.