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RCCL to pay $80 million in bonuses to staff, excluding corporate officers

Royal Caribbean Cruises Ltd. (RCCL), the world’s second largest cruise shipping group, said it would pay a total of $80 million in bonuses to its 66,000 staff after reporting record results for 2017.

“After announcing RCCL had achieved its three-year Double-Double goal of doubling earnings per share and recording 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%,” the company said in a statement.

"Exceptional results require exceptional effort," said Richard D. Fain, RCL's chairman and CEO. "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 an $80 million programme called the "Thank You, Thank You Bonus."

The awards, which vest over three years, will go to all employees – shipboard and shoreside, full-time and part-time, domestic and overseas. Corporate officers, however, are excluded. In addition to the 5% equity awards, the company will contribute to the Crew Welfare Fund for upgrades to crew living and recreational areas.

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