The Shyft Group Recognizes Employees With Additional $500 Cash Bonus Following Robust Year

Rhea-AI Summary

The Shyft Group (NASDAQ: SHYF) announced a special $500 bonus for its employees in recognition of their commitment during a challenging year. This bonus is available to all full- and part-time associates employed in 2020 at U.S. locations. President and CEO Daryl Adams highlighted the team's dedication, citing significant growth as a result. Additionally, the company is expanding its workforce through various hiring initiatives across its campuses. Shyft reported sales of $676 million in 2020 and is recognized as a leader in specialty vehicle manufacturing.

Positive

• Awarding $500 bonuses to employees reflects strong company commitment and can enhance employee morale.
• Significant growth was achieved in the past year, indicating robust business performance.
• Ongoing hiring initiatives suggest plans for expansion and increased operational capacity.

Negative

• None.

NOVI, Mich., March 16, 2021 /PRNewswire/ -- The Shyft Group (NASDAQ: SHYF) ("Shyft" or the "Company"), North America's leader in specialty vehicle manufacturing, assembly, and upfit for ecommerce-driven parcel delivery, as well as the broader commercial, retail, and service specialty vehicle markets, recently announced it is awarding employees with a special $500 bonus.

The bonuses are being awarded to Shyft employees in recognition of their sustained commitment to customers and their crucial role in the company's strategic evolution throughout an unprecedented year. The $500-bonus amount is being paid to both full- and part-time associates who were employed with the company in 2020 in a U.S. campus location.

"Last year brought many challenges, but it also brought opportunities and significant growth for Shyft, which is a direct result of our team's ongoing dedication to our customers, our products, and our operations," said Daryl Adams, President and Chief Executive Officer of The Shyft Group. "I applaud all members of the Shyft team for harnessing our strengths during a critical year. We are grateful for the hard work, flexibility, and relentless commitment to the business and our customers by each and every team member."

In recent months, the company has announced several hiring initiatives to add to its workforce across its U.S.-based campuses. Interested job seekers may view and apply for open positions by visiting www.TheShyftGroup.com/jobs.

For more information on The Shyft Group, visit www.TheShyftGroup.com.

The Shyft Group
The Shyft Group is the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets. Our customers include first-to-last mile delivery companies across vocations, federal, state, and local government entities; the trades; and utility and infrastructure segments. The Shyft Group is organized into two core business units: Shyft Fleet Vehicles & Services and Shyft Specialty Vehicles. Today, its go-to-market brands include Utilimaster, Royal Truck Body, DuraMag and Magnum, Strobes-R-Us, Spartan RV Chassis, and Builtmore Contract Manufacturing, which are well known in their respective industries for quality, durability, first-to-market innovation, and industry-leading aftermarket parts, service, and support. The Company employs approximately 3,000 employees and contractors across campuses, and operates facilities in Michigan, Indiana, Maine, Pennsylvania, South Carolina, Florida, Missouri, California, Arizona, Texas, and Saltillo, Mexico. The Company reported sales from continuing operations of $676 million in 2020. Learn more about The Shyft Group at www.TheShyftGroup.com.

CONTACT: 
Media:
Samara Hamilton                           
Vice President, Marketing and Communications                             
The Shyft Group            
Samara.Hamilton@theshyftgroup.com
(517) 997-3860

Sawyer Lipari
Senior Director
Lambert & Co.
slipari@lambert.com 
313.309.9551

Investors:
Juris Pagrabs
Group Treasurer, Director of Investor Relations
The Shyft Group
Juris.Pagrabs@theshyftgroup.com
(517) 997-3862

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SOURCE The Shyft Group

FAQ

What is the recent employee bonus announced by The Shyft Group (SHYF)?

The Shyft Group announced a $500 bonus for all employees to recognize their commitment during the past year.

Why did The Shyft Group award bonuses to its employees?

Bonuses were awarded to acknowledge employees' crucial role in the company's strategic evolution during a challenging year.

What were The Shyft Group's sales figures for 2020?

The Shyft Group reported sales of $676 million from continuing operations in 2020.

What hiring initiatives has The Shyft Group announced?

The Shyft Group has announced several hiring initiatives to expand its workforce across its U.S.-based campuses.