A family-owned business in Michigan has surprised its 200 employees by handing out a whopping four million dollars in Christmas bonuses this year. You read that right, 4 MILLION bucks.
It looks like the employees of Michigan-based FloraCraft, a company that makes the foam bases for floral arrangements, are going to have a wonderfully Merry Christmas this year!
According to CNBC:
“This is something [Lee’s] been wanting to do for many years,” Eric Erwin, president and CEO of FloraCraft, tells CNBC Make It. “In February, he told the board, ‘you know, I really think this is the year we’ve got to figure out how to do this.’ We spent a better part of the year making sure we had the right program in place.”
The company devised a seniority scheme to give out the cash, but according to CNBC, each employee will get at least $20,000.
The Christmas gift includes contributions to the employees’ 401k plans, too, so some of the cash will go to their retirements.
The employees who have worked for the company the longest will receive up to $60,000 in bonuses.
The company also noted that these gifts only apply to workers and not the senior staff.
Saying that his employees are “the heart and soul of FloraCraft,” the 82-year-old Schoenherr told employees, “I believe strongly in giving back to the community by supporting initiatives that make Ludington a wonderful place to live, work and raise a family.”
Naturally, employees were overjoyed at the generosity of their boss.
I imagine we all would!
Merry Christmas, FloraCrafters where ever you are!
Follow Warner Todd Huston on Twitter @warnerthuston.