March 20, 2017

L.L.Bean announces bonuses for workers

L.L.Bean announced Friday a 3% cash performance bonus for its 6,000 workers.

L.L.Bean's board of directors have approved a 3% cash performance bonus for the company's 6,000 workers.

The Associated Press reported that the Freeport-based outdoor speciality retailer also announced on Friday that its annual net sales in 2016 were level with the previous year at $1.6 billion.

A company spokeswoman told the AP that L.L.Bean's 2016 performance was in line with the retail industry at large.

Earlier this year, the company announced it would be taking several cost-cutting measures, including offering voluntary early retirements and freezing pensions. The company also said it was rethinking its free shipping and "satisfaction guaranteed" return policies.

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L.L.Bean midway through its workforce reduction buyout plan


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