This week Hormel Foods Corporation, based in Austin, MN, distributed more than $16.9 million in annual profit sharing checks to eligible hourly and salaried employees during the company’s 74th annual Thanksgiving Eve Day tradition.
“Our record year in net sales and earnings is a testament to our hard working and dedicated employees,” says Jeffrey M. Ettinger, chairman of the board, president and chief executive officer at Hormel Foods. “We are honored to be able to once again provide this benefit to our employees in recognition of their tireless efforts to drive our business forward.”
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.
Hormel Foods is a multi-national company known for such brands as Lloyd’s barbeque and SPAM. Hormel leverages its extensive expertise, innovation and high competencies in pork and turkey processing and marketing to bring branded, value-added products to the global marketplace.