AUSTIN — Hormel Foods Corp. distributed its 79th annual profit sharing to eligible employees Wednesday morning.
The company distributed about $17.5 million to hourly and salaried employees during its yearly tradition before Thanksgiving. The profit sharing program was started by Jay C. Hormel in 1938 and is voluntarily paid at the discretion of Hormel's board.
"We continue to grow our brands and reach consumers in more ways than ever before," said Jim Snee, chairman of the board, president and chief executive officer at Hormel Foods. "We are proud to once again celebrate our achievements through this year's profit sharing contribution, a program that is unique in our industry."
