Last week, Norway's Ulstein Group presented good preliminary profit results for 2009. The company has now announced that its employees in total will receive a bonus of more than US$6.7 million. All 800 employees will receive a group bonus for 2009.
Due to internationalisation and growth, Ulstein Group has been working to achieve a common bonus system for all employees, and the new arrangement for profit distribution was initiated as of January 1, 2009.
The system consists of two components – employees can achieve both a group bonus and a company bonus dependent on profit compared with the budget.
"We are very happy that we after solid results have a profit sharing bonus system," said CEO Gunvor Ulstein. "We have had very high activity and have delivered products and services on time and to agreed price and quality. Together with good cost control and project management, this has resulted in a fine profit which to a high degree is executed by our employees."
