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'Double-Double' goals met, RCL dishes out $80m bonus to all employees

(Photo: Anne Kalosh)
Richard Fain - 'Reaching the "Double-Double" required remarkable focus and discipline from our employees, and they delivered'
A record year for Royal Caribbean Cruises Ltd. will translate into a surprise financial reward for each of the company's 66,000 employees totalling $80m.

After achieving its three-year 'Double-Double' goal of doubling earnings per share and a double-digit return on invested capital, the company today told employees they will be thanked for their contribution with individual salary bonuses of 5%.

'Exceptional results require exceptional effort,' RCL chairman and CEO Richard Fain said. 'Reaching the "Double-Double" required remarkable focus and discipline from our employees, and they delivered.'

Employees will receive equity awards equal to 5% of their 2017 salaries in the $80m 'Thank You, Thank You Bonus.' The awards, which vest over three years, will go to all workers—shipboard and shoreside, full-time and part-time, domestic and overseas—with the exception of corporate officers. In addition, RCL said it will contribute to the Crew Welfare Fund for upgrades to crew living and recreational areas.

Fain said the 'Thank You, Thank You Bonus' has the added benefit of enabling employees to see the company as shareholders do. Calling it a 'people business,' he added: 'We want to thank every one of our people for the hard work that got us to today's announcement, and give them a stake in our success going forward.'