Christmas celebration at JCB as $9m bonuses announced
Record-breaking bonus comes as JCB celebrates production and recruitment milestones of 2018
English equipment manufacturer JCB has announced Christmas bonuses to the tune of $9.1m for some of its employees after an immensely profitable year.
The bonus is JCB’s largest since 2007, and will see 7,200 employees across its 11 plants in Staffordshire, Derbyshire, and Wrexham receive an extra $1,265 with their pay.
JCB said the “record-equalling Christmas bonus” comes after the firm’s machine production reached a 73-year high in 2018, with 1,500 people recruited this year. Of the total number, around 550 comprised of agency employees that were given permanent JCB contracts.
In 2018, JCB also launched a new range of X-Series excavators, as well as began work on a $63.3m factory at Uttoxeter, Staffordshire (UK) that will build cabs for its machines. This year, the firm also unveiled its first electric digger, which is a 1.8-tonne mini machine that can be charged with 230-volt domestic supply.
Commenting on the Christmas bonuses, JCB chairman and industry veteran, Lord Anthony Bamford, said: “JCB has had a very successful year and I am delighted that we are able to award a substantial Christmas bonus to thank our employees for their contribution.”
Despite global concerns about the impact of Brexit on the UK’s economy, Lord Bamford expressed optimism about the country’s – and JCB’s – growth prospects for 2019.
“There are many parallels between JCB and the British economy at the moment: both are doing very well indeed and both have record levels of employment,” he continued.
“What’s more, the signs remain extremely encouraging for 2019, with many reasons to remain positive for the future, both for our business, and the UK, which, after all, is the world’s fifth-largest economy.”