© 2023 Maine Public | Registered 501(c)(3) EIN: 22-3171529
Play Live Radio
Next Up:
Available On Air Stations

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

Will Foster
Robert F. Bukaty
AP file
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.

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.