(Meredith) - A commercial real estate firm based in Baltimore, Maryland, surprised all 198 of its employees with $10 million in holiday bonuses.
Each employee at St. John Properties will receive a payout based on their tenure at the company, with the average worker taking home a $50,000 bonus. Some employees will get six-figure bonuses upwards of $250,000, KUTV reported.
Founder and chairman Edward St. John made the announcement during the company's annual holiday party on Saturday. He said the company reached a milestone of developing 20 million square feet of office, retail, and warehouse space in eight states -- thanks to dedicated employees.
“To celebrate the achievement of our goal, we wanted to reward our employees in a big way that would make a significant impact on their lives,” St. John said in a release. “I am thankful for every one of our employees, for their hard work and dedication. I couldn’t think of a better way to show it.”
The money will be paid out in addition to the company’s annual year-end bonus. Some employees reportedly plan to use the money to pay off their mortgages, send their kids to college, and take dream vacations.