Southwest to pay record $620M in profit-sharing
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Southwest Airlines announced Thursday it will pay out $620 million in profit-sharing to employees in April.
Eligible employees will receive about eight weeks’ pay.
“Behind every milestone Southwest Airlines has celebrated — and there have been many — our employees are the driving force,” Gary Kelly, Southwest’s chairman, president and CEO said in a news release. “Our people have built one of the world’s most admired companies, and they share in Southwest’s success with this third consecutive record-breaking profitsharing contribution.”
Combined with the company match and other retirement plan contributions, Southwest said employees will receive about $945 million in retirement benefits for 2015.
Southwest employees own about 4 percent of the company’s outstanding shares through the ProfitSharing Plan.