Happy New Year for Marvin Employees (to the Tune of $20 Million)January 3rd, 2024 by Editor
The year got off to a great start for employees of Marvin, after the company released an end-of-the-year profit sharing announcement. At the Warroad, Minn.-based manufacturer’s annual meeting, Paul Marvin, CEO, announced that more than $20 million in profits would be doled out via profit sharing among 7,089 eligible employees. Full-time employees with more than 1,500 hours worked received a minimum of $2,200 and up to more than $6,400, depending on their length of service with the company. Officials said profit sharing figures for 2023 marked a 59% increase over the prior year.
“This year marked the first in our current five-year business strategy and it was a year of foundational preparation, research, and piloting,” Marvin said. “I am proud of how our teams delivered exceptional business results while also tackling an ambitious transformational plan to ensure Marvin is positioned to thrive for generations to come.”
Over the past 66 years, the company has shared more than $395 million with its employees, officials reported.