Southwest Airlines has announced this week that it will share $544 million with its employees through the company’s profit sharing plan. This reward equals approximately 10.8 percent of each eligible Employee’s eligible compensation.
This is Southwest’s 45th consecutive profit sharing award, starting with the first profit sharing payout in 1974. The company will pay part of the award to the retirement plan and part in cash. Most employees will receive 10 percent of eligible compensation as a contribution to the profit sharing plan and the remainder in cash, both of which will be paid on March 15, 2019. Some employees will receive the entire profit sharing award as a contribution to their retirement plan accounts as specified in their collective bargaining agreement.
The 2018 profit sharing award is the third highest in company history.
Above Photo: Southwest Airlines. PAWsome Passengers were handled with care as they arrived to Baltimore/Washington.