Royal Caribbean, on Soaring 4th Quarter Revenues & Profits, to Pay Employees 5% Bonuses

Royal Caribbean announced its fourth quarter financial results with CEO Richard Fain stating that the cruise company received revenues of $2,000,000,000 with net profits of $288,040,000. Royal Caribbean's fourth-quarter profits and revenues reportedly exceeded Wall Street estimates, Mr. Fain told CNBC that the company met its lofty three-year goals of "double earnings" and a "double-digit" return on invested capital. In response the Royal Caribbean executive stated yesterday that Royal Caribbean employees will each receive a bonuses in the amount of 5% of their annual salary.  Investor Place reports that the cruise line will be distributing the bonus to its 66,000 employees. This will include shore-side and shipboard employees. This bonuses will be in the form of "equity grants" which will vest over three years. RCL reports that total spending on the bonuses will be $80 million. Crew members state that their annual minimum guaranteed…

Read more detail on Recent Admiralty Law posts –

This entry was posted in Admiralty-Maritime Law and tagged , , , , , , , , . Bookmark the permalink.

Leave a Reply