The company I work for has about 120 plant workers, 80 distribution workers and 50 office people.

there are 6 guys who lucked into owning the company with an equity sponsor (i am not one of those 6).... anyway......... the company is doing great....beyond great.......

After a small struggle, the plant & distribution guys got a $300.00 x-mas bonus each (that includes clerk office people too).........

I was told by one of the 6 "that x-mas bonuses we handed out really cost a lot"..... ya $60k for all 200 people....... which is less than the average that each one of the 6 got!!!!!

I guess this is normal these days? Greed is horrible..... if the plant guys figured this out, I am sure there would be a union drive.......

I am all for bonuses, but some equality would be nice to see.......?

 

How did they "luck into" owning a company?

BTW, with 250 workers (120+80+50) getting a $300 bonus, it cost 75K. And that doesn't include what the company had to kick in for FICA.

 

Most of the "office" workers are exempt (roughly 120+80 = 200 x 300 = 60k x 107.65% = $64,590 ) and did not get that $300.00... they instead got a decent bonus in February........ but the point was..... the "floor" / "shop" guys basically got nothing......

The top 6 guys just happened to be here..... the parent company wanted to sell the place and one of the 6 guys found an equity sponsor......... sort of luck that the one found an equity sponsor and luck that they could buy the company anyway...... and they got it for a steal!!!!!

Anyway.... i was all for a 10% bonus across the board or something like that..... the guy who makes $100k gets $10k and the guy on the floor who makes $30k gets $3k...... instead it was like $300 for the losers and $$$$$$$$ for the not so hard working office folks (me included).....


[QUOTE]Originally posted by jmc1971
How did they "luck into" owning a company?

 

It is good to be king as the saying goes.

The owners have no obligation to pay the troops anything extra. If they treat their employees like crap the employees are free to bail out for greener pastures and the company will tank. Free Markets at work.

 

true..... the employees are basically in the dark.... our financials are not public knowledge and are not posted anywhere....... GREED wins!!!!!!!!!! the little guy! the $$$$ is all mine!!!!!

[QUOTE]Originally posted by TrojanHorse
It is good to be king as the saying goes.

 

10% would be huge.

 

When I worked for a large hotel chain the bonuses were set by meeting certain gates. A line employee, ie housekeepers, maintenance personel, kitchen staff, front desk staff all would get a minimum of $300 with a satifactory evaluation. If their evaluation reflected a better than satisfactory rating they could get up to $500. Department head bonuses were also based on performance, starting at 15% of base pay going up to 25%. General Manager started at 25% and could go as high as 40% of base pay. All bonuses were handed out to employees 2 weeks before Christmas, as a seperate check, not as part of their regular pay.

 

Total payroll for the company is roughly $9M x 10% (my suggestion) = $900k. Our total bonus paid was almost $950k.... but almost half of that was for the top 6, then $60k-$65k for the plant and the rest to the 60 or so office/ sales people......

Avg office person / sales person bonus - $7k (roughly).


edit - there are roughly 70 office people......60 of those are exempt... roughly 10 are clerks...

 

The way it works where I work is you get grouped into 4 different categories based on your performance the previous year. 10% would be top echelon, then 5%, 2.5% and 0%.

 

ours was like 50%-75% for the big dudes...... some office folks as high as 20%... all the way down to the lowest office person was about 10%..... then nothing (basically) for the factory guys.

[QUOTE]Originally posted by turbo_pwr
The way it works where I work is you get grouped into 4 different categories based on your performance the previous year.