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Sunday, January 29, 2023

Delta employees would again be rewarded nearly $500M in profit sharing

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For the first time since 2019, Delta said on Friday, January 13, that its 90,000 staff members would once more be recognized and rewarded on Valentine’s Day with over $500 million in substantial profit sharing.

On February 14, also known as Employee Appreciation Day, the payouts will be deposited into employees’ bank accounts in honor of the exceptional accomplishments made possible by Delta employees all over the world.

“Delta people rose to the challenges of 2022, delivering industry-leading operational reliability and financial performance, and I’m looking forward to recognizing their achievements,” Delta CEO Ed Bastian said in the company’s earnings report Friday.

More than $9.2 billion in profit-sharing payments have been made to Delta employees since 2007 (including approximately $6 billion in the five years prior to the epidemic), setting an industry record.

In 2019, Delta paid out $1.6 billion in employee profit-sharing, or 16.6% of employees’ salaries, or roughly an extra two months’ compensation for each employee.

10% of the first $2.5 billion in profits and 20% of the profits over that amount are contributed to the annual profit-sharing pool by Delta.

The total earnings of all eligible employees are then split by the pool’s sum.

The result is the percentage of earnings Delta will pay out in profit sharing to each eligible employee.

Photo cover by Delta

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