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A Baltimore-based real estate company will dole out $10 million in Christmas bonuses to its 198 employees, its founder announced Saturday.
Each employee at St. John Properties, a Mid-Atlantic commercial real estate firm, will receive an average of $50,000 each after the company reached its goal of developing 20 million square feet of commercial, retail and office space in eight states.
“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,” said company founder Edward St. John. “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.”
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The bonuses will be paid based on the number of years each employee has been with the company. St. John revealed the news at the firm's annual holiday party over the weekend.
A video capturing the announcement showed surprised employees, some of whom teared up and covered their faces when they saw their bonus amount.
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“What happened tonight, it is magical. It is life-changing,” said one employee before taking an emotional pause.
Another said he was "very excited."
"I've been working here [for] a long time. He [St. John] didn't have to do what he did," said another in the video posted by the company.
“I steer the boat, but they're the ones that run the boat. They're the ones that make the boat go. Without the team, we are nothing,” St. John said. “We are absolutely nothing.”