Amid strong revenue growth, L.L. Bean gives 20% bonuses to employees

Maine Public | By Fred Bever

Published March 18, 2022 at 3:43 PM EDT

Will Foster, a worker at the L.L. Bean flagship retail store, adjusts display clothing on a mannequin, Thursday, March 18, 2021, in Freeport, Maine.

Freeport retail giant L.L. Bean had a very good year in 2021, and it's sharing the good fortune with its 5,500 employees.

L.L. Bean has a tradition of providing robust bonuses to workers in good years. And with $1.8 billion in revenues in 2021, the company says its had one of its best years ever. It's a 14% revenue boost over the previous year, and in a press release the company says it will give its workers a "performance" bonus worth 20% of annual pay.

The benefit will be split between cash and company 401(k) retirement contributions, for Bean's more than 5,000 employees in Maine, the U.S and abroad.

Business and Economy

Fred Bever

A Columbia University graduate, Fred began his journalism career as a print reporter in Vermont, then came to Maine Public in 2001 as its political reporter, as well as serving as a host for a variety of Maine Public Radio and Maine Public Television programs. Fred later went on to become news director for New England Public Radio in Western Massachusetts and worked as a freelancer for National Public Radio and a number of regional public radio stations, including WBUR in Boston and NHPR in New Hampshire.

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