Bonus | Firm to pay out £1.2bn in profit sharing to employees

Firm to pay out £1.2bn in profit sharing to employees

Delta Air Lines has announced plans to pay out more than £1.2billion ($1.6billion) in profit sharing to its employees, Daily News reported.

According to the firm’s CEO, Ed Bastian, the pay-out for the average employee will equate to about two months pay and land in employees’ bank accounts on Valentine’s Day, when the company is said to hold profit-sharing celebrations for workers across the country.

Bastian recalled: “For years, I would get beaten up by Wall Street. They thought the profits were theirs, and ‘Why are you giving the profits away to the employees?’

“Wall Street has actually come full circle, and they realise that Delta is the most awarded airline in the world because of its employees,” he said at a Cobb Chamber event at the Roxy Theatre.

Delta has given employees a share of a billion-dollar payout in previous years too.

But it seems that Delta isn’t the only organisation to recognise the effort that staff have put in to help the company increase commercial success.

Earlier this year, Greggs staff were set to receive a stake in a seven-million bonus after a ‘phenomenal year’ of trading.

The bakery chain said that thousands of workers are on track to receive a one-off payment of £300.

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Company shareholders received a £35million dividend in October 2019.

Greggs’ Chief Executive, Roger Whiteside, said: “Our record financial performance in 2019 has enabled us to enhance returns to shareholders.

"I am delighted to announce that we will also be making a special additional payment to all of our colleagues across the business who have worked so hard to deliver this success in what has been a phenomenal year," he concluded.

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