Hormel Foods distributes annual profit sharing for 83rd consecutive year
November 24, 2021 11:50AM CST
Hormel Foods Corporation today distributed its annual profit sharing to eligible hourly and salaried team members during this 83rd consecutive grant.
The grant amount varies each year depending on the company’s performance and number of eligible employees; in the last 10 years, it has ranged from $14 million to $17 million annually. The profit sharing program was started by Jay C. Hormel in 1938 and is voluntarily paid at the discretion of the company’s Board of Directors. Distributions from the plan have become an annual Thanksgiving Eve tradition at the company.