Andersen Shares $33 Million in Profits with Employees, Donates $4 Million to Local Communities
In recognition of employee contributions to Andersen Corporation's 2020 business performance, the company announced its total annual profit-sharing distribution to employees on December 16. This year's total payout of $33 million will result in $3,500 per eligible employee, which the company reports is $1,000 above the target for the year and 40 percent higher than 2019. For more than 100 years, Andersen has shared profits with employees.
"This year's profit sharing in particular serves as a special reminder of the importance of our company's 'all together' spirit and recognizes both the extraordinary accomplishments and personal sacrifices of our employees," Jay Lund, chairman and CEO of Andersen, says.
Andersen also continued its longstanding commitment to philanthropy by supporting nonprofit organizations providing critical services to people in need. In 2020, Andersen and its related corporate foundation contributed more than $4 million in the areas of housing, education, social services, healthcare and racial justice in communities where employees live and work.
Additionally, Andersen's research, development and innovation team pivoted its focus early in the pandemic to design and produce face shields for frontline health and safety workers. In total, Andersen donated more than 180,000 face shields, monetarily equivalent to more than $1 million, to frontline workers and organizations serving high-risk individuals across the country.
Designated as one of the nation's essential businesses, Andersen continued to safely operate throughout 2020, enacting four driving principles: keep employees safe, contribute to the national effort to combat the coronavirus, maintain business continuity, and preserve the financial stability of the company. This focus, combined with an unwavering commitment to the company's values, resulted in strong business performance and the ability to share its success both with those less fortunate and Andersen employees, the company reports.