Michigan business gives $4M in Christmas bonuses to employees

By Best of BusinessFOXBusiness

Holiday party surprise bonus: Family-owned business gives nearly $4M in bonuses to employees

FloraCraft owner Lee Schoenherr on surprising the business' employees with bonuses at the company holiday party.

Tis’ the season for giving. And when employees at one Michigan-based foam producer walked into their holiday party they had no idea what was about to happen next.

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“I think that since I was coming back from Florida and they realized that, well, something’s going on and I thought to myself, you know, I bet they are thinking I’ll sell the company,” said FloraCraft owner Lee Schoenherr to FOX Business’ Stuart Varney on Wednesday.

Then Schoenherr unleashed the ultimate Christmas gift — each one of his employees would be splitting about $4 million dollars in bonuses, based on longevity.

“We have about 200 employees,” he said. “And it depends on how long they’ve been with us, what they are going to get. But the average would be probably 15 to $20,000. And those that have been with me longer [are] going to get $60,000-plus.”

Naturally, the news sprung quite the reaction.

“There were some smiles, there was cheering, there were tears,” according to Schoenherr. “In fact, it brought tears to my eyes too because this is the best Christmas I’ve ever had, too.”

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Schoenherr said he realized after making some local charitable contributions that he owes his company’s success to his hardworking, loyal employees.

“I couldn’t ask for a better team than I’ve had,” he said. “So I thought I ought to do something just for them to really show that I appreciate them.”

FloraCraft is a family-owned company that has operated for more than 70 years as the world’s leading manufacturer of foam products for the craft and floral industries, according to the website.