US CEO Gifts $240 Million in Bonuses to Employees After Company Sale
2 hours agoBusiness
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4 SourcesMinden, Louisiana, United States
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US CEO Gifts $240 Million in Bonuses to Employees After Company Sale

Fibrebond, a family-owned American manufacturer, was sold to Eaton for approximately $1.7 billion. As a condition of the sale, CEO Graham Walker ensured 15% of the proceeds, totaling $240 million, were distributed as bonuses to over 550 employees who had remained loyal through various business cycles. These life-changing bonuses, averaging $443,000 paid over five years, were given to workers without company stock, significantly impacting their lives and the local Louisiana community.

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