Hormel Foods Announces Over $4 Million in Special Cash Bonuses for Plant Production Team Members

Company's team members working tirelessly to ensure food supply during COVID-19 crisis

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Mar 23, 2020, 12:23 ET

AUSTIN, Minn., March 23, 2020 /PRNewswire/ -- Hormel Foods, a global branded food company (NYSE: HRL), today announced a special cash bonus to its plant production team members who continue to work tirelessly to produce food during the COVID-19 outbreak. The more than $4 million bonus will be paid to all full- and part-time plant production team members who have been working around the clock to ensure the company's trusted brands and products are available during the COVID-19 pandemic.

"As a global branded food company, we play a critical role in providing safe, high-quality food during this unprecedented time," said Jim Snee, chairman of the board, president and chief executive officer at Hormel Foods. "Our incredible team of more than 13,000 plant professionals is the backbone of our company and this special bonus is one way we can continue to thank them for how they have risen to the challenge and continue to produce food with a sense of purpose and pride."

The special bonus includes $300 for full-time team members and $150 for part-time team members. Additionally, the company has expanded its CARE Program employee assistance program fund, and extended paid sick leave and waived waiting periods and eligibility requirements for certain benefits for its workforce.

In addition to this special bonus, Hormel Foods has taken a leadership role in helping with hunger relief and food insecurity and announced a pledge of $1 million in cash and product donations to assist nonprofits with their efforts during the COVID-19 outbreak.

The company's monetary and product donations will be made to global, national and local hunger-relief organizations. Feeding America, Convoy of Hope, Conscious Alliance and food and hunger-relief organizations in the company's plant communities will be among those organizations receiving immediate funding and donations.

Hormel Foods has donated more than $50 million in cash and product donations to help others over the last five years. For more information about the company's charitable giving and corporate responsibility efforts, please visit https://csr.hormelfoods.com/.

ABOUT HORMEL FOODS — Inspired People. Inspired Food.™

Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 billion in annual revenue across more than 80 countries worldwide. Its brands include SKIPPY^®, SPAM^®, Hormel^® Natural Choice^®, Applegate^®, Justin's^®, Wholly^®, Hormel^® Black Label^®, Columbus^®, Happy Little Plants^®and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named on the "Global 2000 World's Best Employers" list by Forbes magazine for three straight years, is one of Fortune magazine's most admired companies, has appeared on Corporate Responsibility Magazine's "The 100 Best Corporate Citizens" list for the 11^th year in a row, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company lives by its purpose statement — Inspired People. Inspired Food.™ — to bring some of the world's most trusted and iconic brands to tables across the globe. For more information, visit www.hormelfoods.com and http://csr.hormelfoods.com/.