Lifestyle

Company Announces $10 Million in Bonuses for 198 Employees

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At a time when we’re hearing about a pending dip in the market, and the rise in the cost of living, one company in Baltimore, Maryland has given its employees a Christmas gift that would make all of their fear dissipate. Employees of the St. John Properties real estate company were surprised at their annual Christmas party with the announcement that their bosses were issuing $10 million in bonuses.

Founder of the company, Edward St. John, made the announcement that all 198 employees would enjoy the bonuses, which were calculated based on longevity with the firm. Employees of St. John Properties will get bonuses up to $250K depending on their seniority. The average bonus will be $50K. Their founder explained that he wanted to reward the employees in a way that would have a big impact on their lives. It was a powerful way to express his gratitude for the employees and their hard work and determination.

Video: YouTube/NBC News

Shared on the NBC News YouTube channel, the video of the announcement has brought viewership numbering in the thousands. The bonuses were given to the employees of St. John Properties in celebration of achieving the company’s goal of the development of 20 million square feet in office space. As you can imagine, employees reacted in shock, some with tears, and obviously a whole bunch of gratitude, when they opened their individual red envelopes that contained the details of their bonus. The company’s holiday party took place on December 7, 2019.

It’s not the first time a company has stepped up to the plate in this fashion to recognize the hard work of its employees. In 2015, Hilcorp Energy Co., based in Texas, gave each of its employees a bonus of $100,000 in recognition of achieving that company’s five-year goals that year. Amid an oil slump reportedly taking place at the time, Hilcorp’s employees worked to double its production rate, its oil and gas reserves, and its equity value over a five-year period. According to the Houston Chronicle, similar to the St. John Properties announcement, the $100,000 Hilcorp Energy Co. bonuses were prorated based on years of service, but every employee at all job levels was eligible. “Yes Virginia, There is a Santa Claus!