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