On Valentine's Day, Delta Air Lines showed its employees how much it cared by giving them a cheque for 10.4% of their qualified wages. The entire staff received a payout of $1.4 billion as a result of this gesture.
The profit-sharing arrangement of the corporation has a longstanding reputation for being generous. Every year on February 14th, which also happens to be Employee Appreciation Day and Valentine's Day, Delta gives away a percentage of its net earnings from the previous year as a way to thank its staff. With a net profit of $4.6 billion in 2023, Delta outperformed its $1.3 billion profit the year before by over three times. CEO Ed Bastian highlighted that taking care of Delta's employees is a primary priority and underscored the company's commitment to rewarding its workforce. He emphasised that the $1.4 billion award was proof of the commitment and diligence of the Delta team in 2023.
The reward was distributed among several local and international territories. Notable payouts in the domestic sector include $185 million in New York, $595 million in Georgia, and $124 million in Minnesota, among other states. Globally, the Asia-Pacific area received $5.4 million in allocations, while EMEAI received $4.4 million. With a profit-sharing scheme that exceeds the total amount of all of its US peer airlines, Delta distinguishes out.
Delta's profit-sharing program has paid out about $11 billion to its workers since it began in 2007. Based on qualified earnings per employee, the program distributes 10% of the first $2.5 billion in profits and 20% of profits over $2.5 billion.
The payout for this year is double that of the previous year, from $563 million in 2022 to $1.4 billion in 2023. The organisation is dedicated to the welfare of its workers in ways other than profit-sharing. In 2023, Delta launched a program for emergency savings in association with Fidelity Investments and Operation HOPE. Through this program, staff members can receive a $1,000 airline-funded rainy-day allowance in addition to individualised financial counselling. The initiative has been implemented by more than 35,000 employees, who have benefited from increased emergency reserves and financial awareness.
Employees at Delta, like Atlanta-based flight attendant Loretta Day, have praised the company's programs and expressed thanks for its help in financial education and emergency preparedness. Delta continues to place a high priority on the welfare and financial security of its employees through its profit-sharing program and other initiatives.
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