Leo Schoenherr, CEO, FloraCraft, a family-based American craft and floral company announced a gift of $20,000 (approx. Rs 14 lakh) as a Christmas bonus to each member of his 200 strong workforce.
The bonus was reportedly announced as a form of appreciation for the hard work of the employees of FloraCraft. The gift amount is determined on the basis of each employee’s tenure. Staff members with more than 40 years of experience will be receiving over $60,000. However, the average amount gifted to each employee will be around $20,000.
It is reported that 75 percent of the bonus will go into the retirement plan of the employees, while the balance will be handed over as cash.
FloraCraft, which manufactures foam products for the craft and floral industries, sells its products through retailers, such as Walmart, Amazon and Hobby Lobby.