Employee profit-sharing is back at Bayport-based Andersen Corp. Eligible employees will split more than $8 million under the program.
More than 8,000 of Andersen’s about 10,000 employees are eligible for profit-sharing. Under the formula, eligible employees will receive $1,080.
Andersen Corp. is a maker of window and door product and operates three divisions: Andersen Windows Inc.; Renewal by Andersen LLC, a window replacement division; and Silver Line Building Products LLC, a vinyl windows and doors division. The privately held company, founded in 1903, does not disclose financial information.
It is the 100th anniversary of Andersen’s profit-sharing program, but the company does not give out awards every year. “This is the first time in five years that Andersen has paid profit-sharing,” said Jay Lund, chairman, president and CEO of Andersen Corp., “and the first time ever that employees from all three divisions are eligible to participate.”