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Delta’s profit-sharing payout hits record

By Wire services
Published: February 17, 2020, 8:46pm

Delta’s profit-sharing payout hits record

Delta Air Lines distributed $1.6 billion in profit-sharing to its 90,000 employees on Friday, a record for any U.S. company.

The distribution has become a Valentine’s Day ritual for Delta in recent years, representing an income boost that, except in the finance industry, is rare to most workers in America. It has also become a moment when unions draw attention to the inequalities in the airline industry, which relies, for some services, heavily on subcontractors that don’t pay their workers nearly as well.

This year’s payout at Delta works out to nearly $17,800 per employee and represented a 16 percent bonus to average worker pay, the airline said.

The pay averages are skewed by the high pay pilots receive, reaching well above $200,000 for the most senior pilots. As a result, most Delta workers receive bonuses that are smaller than the average. All of Delta’s full-time, part-time and “ready reserve” employees qualify for the profit-sharing pool except for its officers and directors, who are paid with incentives based on other measures.

Its latest profit-sharing payout represents a sharp jump from the $1.3 billion it distributed last year and beat the previous record payout of $1.5 billion in 2016.

Bezos commits $10B to fight climate change

NEW YORK — Amazon founder Jeff Bezos said Monday that he plans to spend $10 billion of his own fortune to help fight climate change.

Bezos, the world’s richest man, said in an Instagram post that he’ll start giving grants this summer to scientists, activists and nonprofits working to protect Earth.

Amazon, the company Bezos runs, has an enormous carbon foodprint. Last year, Amazon officials said the company would work to have 100 percent of its energy use come from solar panels and other renewable energy by 2030.

The online retailer relies on fossil fuels to power planes, trucks and vans in order to ship billions of items all around the world.

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