LUDINGTON, MI (RNN) - The 200 employees of the Michigan-based manufacturer FloraCraft will have a very merry Christmas indeed after the company owner and chairman announced plans to share nearly $4 million with his full-time employees.
The bonuses will be based on longevity of service and shared in two ways: a cash bonus and a special gift to the employee’s 401(k) retirement account, according to a company news release.
The average employee, who has nine years of experience at FloraCraft, will receive $20,000, with the highest amount of $60,000 going to those with 40 years of service to the company.
“If we can make their lives a little bit better… that's a wonderful reward for myself and the company, too. I think everyone is happy. It's a merry, merry Christmas for everyone, I hope. At least it was for me," said company owner and chairman Lee Schoenherr, WOOD reports.
Schoenherr announced the bonuses at the company holiday lunch Friday. The news was greeted with cheers and applause, according to the news release.
“It was very humbling. I started crying – it was huge for him to do something like that for everybody,” said Mary Overla, an assistant production supervisor.
Schoenherr says several people thanked him personally for his generosity.
“A few people came up and said, ‘You know, I’ve been working for you for x number of years, and now, I have the money to do such and such.' I had a hard time keeping the tears back myself, seeing the reaction,” Schoenherr told WOOD.
Because of federal laws governing contributions to retirement programs, FloraCraft will make the payments over two calendar years. Employees will receive a second cash bonus and retirement gift by the end of March 2020, according to the Detroit Free Press.
FloraCraft is the world’s leading manufacturer of foam products for the craft and floral industries. Their products are sold at stores like Walmart, Michaels and Hobby Lobby.
The company, which was founded in 1946, says it has never had a layoff. Some families are second-and-third-generation employees.