A 200-employee craft foam maker is giving nearly $4 million in bonuses this season.
FloraCraft owner and Chairman Lee Schoenherr announced during a holiday lunch celebration Dec. 14 that the company's full-time employees would get cash bonuses and 401(k) retirement contributions based on their length of stay with the company.
It'll give the largest gifts — more than $60,000 — to employees who have been with the company more than 40 years, according to a news release.
"The news was fantastic. I didn't expect anything like that, and I'm very happy," employee Mark Harvey said in the release.
Ludington, Mich.-based FloraCraft supplies craft and floral foam products to Walmart Inc., Amazon.com and Michaels Stores Inc., among others. It sells to 20,000 stores in 17 countries.
"This idea has developed over the past year and is my way of saying thank you to our team for the role they have had in our success," Schoenherr, who has led the company since 1973, said in the release. "But don't think this means I'm exiting or selling the business. I love what I do and am committed to maintaining the independence of FloraCraft."
FloraCraft, a family-owned manufacturer founded in 1946, claims it has never laid off employees and says its employees' average tenure is nine years.