Geiger Reports $1.9 Million in Profit Sharing and Sales Bonuses
Geiger, headquartered in Lewiston, Maine with 21 offices nationally, announced it is sharing nearly $650,000 of profits with 450 employee associates, as well as giving $1.2 million in annual bonuses to sales partners.
The news was shared with all associates in split sessions on Thursday, April 3 and Friday, April 4 at the annual assemblies internally referred to as the Fireside Chat. Associates from the off site offices were able to share in the good news through Internet conferencing.
Each employee associate chooses how much of profit-sharing incentive to take in cash and how much to invested in the firm’s 401(k) plan. To encourage saving, the company adds a 25 percent match to those savings. “Geiger has had a profit-sharing and bonus program in place since 1955. Sharing profits has been a part of our culture for over 50 years,” said Gene Geiger, president and CEO.
Ginny Theriault, corporate credit manager, said, “Having worked for Geiger for almost 40 years, I know firsthand Geiger’s commitment to its associates. Geiger has a proud history of sharing with its employees when economic times are good and shielding them when the economy slides.” She added, “In my opinion, Geiger recognizes that their associates are their most valuable resources and consistently invests in their personal and professional well-being. I am very proud to be part of the Geiger family.”
Geiger is the largest privately held promotional products distributor in the nation, operating divisional offices across the U.S. and is affiliated with more than 600 independent sales representatives. Geiger is also is an internationally renowned manufacturer of calendars and planners, and is the sole publisher of the world-famous Farmers’ Almanac.
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