The PEER Bearing Company (a manufacturer of bearings based in Illinois) was bought out by a Swedish company this year. The family that had owned the company gave surprise bonuses of $6.6 million to the 230 employees of the company (an average of over $28,000).
family thanks employees with surprise bonuses
On the day the checks were distributed, Valentin Dima watched as co-workers broke down in tears over their bonus checks. He drove home first, then opened his envelope: $33,000. His wife received a check for a smaller amount, and the two Romanian immigrants have since taken a Caribbean cruise to celebrate.
The new owners intend to operate the company based 40 miles north of Chicago as a wholly owned subsidiary. Workers have been told that most will keep their jobs.
A small bit of good news for these troubling times. It is nice to see true respect for people being practiced. The family also created the Spungen Family Foundation, 2 years ago.
Related: Tilting at Ludicrous CEO Pay 2008 – Focus on Customers and Employees – People are Our Most Important Asset – Manufacturing Continuous to Increase in the USA
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