Employees stunned by five-figure bonuses
January 6, 2009 by Shane BorerPosted in: "Seemed like a good idea at the time", Latest news & views
What appeared to be a case of some misplaced decimal points turned out to be a fitting reward for these employees’ hard work.
When Peer Bearing Co., based in Waukegan, Illinois, was acquired by a Swedish company, many of the plant’s workers were unsure of what would happen to their jobs
And then bonus day arrived. Upon opening their bonus envelopes, most employees broke down and cried over what they saw: five-figure company checks.
A total of $6.6 million was split up between only 260 employees, and amounts were varied based on how long people had been with the company. Family owners said it was a unanimous family decision to thank the workers for their work and dedication.
Since the bonus checks have been distributed, not a single job has been lost at the now wholly owned subsidiary.
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