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No shares in company, but 550 employees received a $240M gift from their owner
More than 550 employees at a Louisiana manufacturing firm received a combined $240 million after the company was sold, despite holding no equity. The payout followed a decision by the owner to share 15 percent of sale proceeds with staff who stayed through layoffs, downturns and uncertainty. The bonuses, averaging about $443,000, rewarded long-term loyalty and transformed lives while boosting the local economy.
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