Delta Airlines has announced that its lucky 80,000 employees will be receiving $1.5 billion in profit sharing. It has been said that this is the largest amount ever paid out by a profit sharing programme. Employees will receive equivalent of 21% of their annual compensation.
When revealing the news, the CEO of Delta said that the company is often asked what makes them different and he cited the ‘unique people-focused culture’ that ‘no competitors can match’.
Media outlets say that the profit sharing plan is set out so that employees are given around 10% of profits, but this can increase to 20% if the company earns over $2.5 billion in a year. In 2015, the company reported pre-tax profits of almost $6 billion. The latest profit sharing scheme comes a year after the airline paid out $1.1 billion to employees in February 2015. In total, Delta has given out over $4 billion in profit sharing over the last five years. United Airlines earned $698 million in profit sharing for 2015. Fellow airline American Airlines does not engage in profit sharing activity.
The profit sharing news comes just a few weeks after the CEO announced that he was stepping down from Delta, to be replaced by the current President of the company.
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