Hormel Foods Announces Over $7 Million in Second Round of Special Cash Bonuses for Plant Production Team Members

AUSTIN, Minn., April 23, 2020 /PRNewswire/ -- Hormel Foods, a global branded food company (NYSE: HRL), today announced a second special cash bonus for its plant production team members who continue to work to produce food during the COVID-19 outbreak. The new $7 million bonus is in addition to the $4 million bonus paid in April and will be paid to all full- and part-time plant production team members who are stepping up to ensure the company's trusted brands and products are available during the COVID-19 pandemic. The company's well-known products include SKIPPY® peanut butter, SPAM® products, Justin's® nut butters, Wholly® guacamole dips, Herdez® salsas, Applegate® products, Dinty Moore® beef stew and Hormel® chili along with a wide variety of other leading brands and products.

"Throughout this pandemic, our number one priority has been to keep our team members safe, especially those who are not in a position to work remotely. We have worked tirelessly to provide enhanced safety measures including PPE, temperature taking, facility innovation to enhance social distancing, and improved access to COVID-19 testing. We do this all with a sense of responsibility and pride as we maintain the constant supply of safe, high-quality food which has provided a sense of security and comfort to millions of Americans. What we are facing today would have been far worse if grocery store shelves were empty," said Jim Snee, chairman of the board, president and chief executive officer at Hormel Foods. "We know that food has the power to bring us together, even when we can't be. Along with so many other essential food industry workers, we are doing our part to make sure people can find food at grocery stores, restaurants through carryout and delivery, and even food pantries. As we recognize heroes during this time, we pay tribute to our health care workers and first responders, but we shouldn't forget the millions of people who are showing up and working hard to keep our food supply chain running. They should be recognized for the heroic and purposeful work they are doing and they have our most sincere appreciation and gratitude."

The special bonus includes $500 for full-time team members and $150 for part-time team members. Hormel Foods has also been providing 100 percent base pay and benefits to all team members impacted by COVID-19. When the second bonus is paid during the first week in July, team members will have received a total of $800 for full-time team members and $300 for part-time team members.

The company has invested millions of dollars in the safety of its team members through innovation in its facilities, enhancements to PPE, temperature screenings, COVID-19 testing and focused efforts on facility redesign for social distancing. To date, out of more than 30 production facilities, the majority are unaffected by COVID-19. The company has been leading the way to help keep its team members informed daily and connected surrounding COVID-19, including town halls with experts from Mayo Clinic, informational sessions and even live celebrity YouTube concerts for its nearly 20,000 inspired team members.

As one of the earliest companies to step up with a pledge of support during the crisis, it has continued to contribute to hunger relief efforts including donating more than $1 million in cash and products and more than 1 million meals to global, national and local hunger-relief organizations. These new donations are in addition to the company's annual giving, which has totaled more than $50 million in cash and product donations over the last five years.

Snee added, "During this difficult time, our customers, consumers and partners can count on us to do our part just as we have done for the past 129 years. We will get through this together."

ABOUT HORMEL FOODS — Inspired People. Inspired Food.™

Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 billion in annual revenue across more than 80 countries worldwide. Its brands include SKIPPY®, SPAM®, Hormel® Natural Choice®, Applegate®, Justin's®, Wholly®, Hormel® Black Label®, Columbus® and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named on the "Global 2000 World's Best Employers" list by Forbes magazine for three straight years, is one of Fortune magazine's most admired companies, has appeared on Corporate Responsibility Magazine's "The 100 Best Corporate Citizens" list for the 11th year in a row, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company lives by its purpose statement — Inspired People. Inspired Food.™ — to bring some of the world's most trusted and iconic brands to tables across the globe. For more information, visit www.hormelfoods.com and http://csr.hormelfoods.com/.

SOURCE Hormel Foods Corporation

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