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Ingka Group thanks co-workers for efforts during the pandemic with €110 million (approximately $128 million) gift

Corporate newsPeople and Culture, RetailOctober 29, 2021
Ingka Group, the largest IKEA retailer to which IKEA U.S. belongs, today announced a one-time, EUR 110 million (approximately $128 million) financial gift as thank you to all co-workers for their extraordinary efforts during the pandemic. The financial gift will be allocated to Ingka Group’s 32 markets globally.

Ingka Group, the largest IKEA retailer to which IKEA U.S. belongs, today announced a one-time, EUR 110 million (approximately $128 million) financial gift as thank you to all co-workers for their extraordinary efforts during the pandemic.

The financial gift will be allocated to Ingka Group’s 32 markets globally, including the U.S., which will receive approximately $17 million to distribute as a one-time gift to all co-workers, regardless of their role. All co-workers directly employed by an Ingka legal entity as of August 31, 2021 will be eligible for the financial gift, provided that they are still employed at the time of pay-out in January 2022. Individual payouts will be based on hours worked. Full-time employees are expected to receive a gross gift of around $900 and others will receive a prorated amount based on hours worked.

“Looking back over the past 18 months, at a time when life at home was never more important, our co-workers came together, supported each other, and continued to help us deliver on our vision to create a better everyday life for the many people,” Javier Quinones, CEO & CSO, IKEA U.S. “I’m tremendously proud to work with this team, and today we take a moment to say thank you to all of our co-workers for their extraordinary efforts during the pandemic.”

Our priority is and has always been to take care of our co-workers. Throughout the last 18 months, they have worked incredibly hard, adapted and learned new skills, and delivered amazing results. This gift is just one way we can celebrate our co-workers and show our deep appreciation for all that they do.

The gift is a one-time show of appreciation, in addition to the existing rewards packages Ingka Group offers. These include an annual ‘One IKEA’ bonus based on company and unit performance, as well as a one-time pension contribution through the company’s “Tack” loyalty program for co-workers employed for a minimum of five years.

For more information, read the full press release in the INGKA newsroom here.