Omega Apparel Incorporated has announced profit sharing and a “Giving Back” Program to kick off the 2013 calendar year.
As part of the profit-sharing program, 20 percent of net profits will be distributed to Omega teammates.
Five percent of the profit distribution will be ear-marked for a 401K/retirement program, and five percent will be distributed for immediate use.
“Our intent is to help our teammates plan for the future versus living paycheck to paycheck. We also want to provide immediate gratification to everyone for enabling Omega to be profitable,” said President and CEO Dean Wegner.
Every Omega teammate will be able to participate in the program after successfully completing a 90-day probation period.
The other 10 percent of the profit sharing program will be reserved for a leadership bonus that will be distributed to the management team, supervisors, and management support group.
“At Omega we have high expectations for our leadership, and we want to reward them for going above and beyond in leading Omega to success,” said CFO Russ Brue.
The 10 percent dedicated for the “Giving Back” program will be directed to a foundation that will determine the allocation of the funds.
The Omega Team Council (OTC) will be charged with determining the focus areas for the Omega Foundation.
The OTC is a group of 12 Omega teammates who provide valued input representing every department and production line at Omega.
“Omega is a family-owned company and we believe in values and giving back to the community in which we live and work” said Human Resources Manager Joel Glover.
“We established five foundations for Omega in 2012 to describe the essence of who we are and what enables us to be successful,” Wegner said. “Putting actual dollars behind these foundations make sure they are real and not just words on a piece of paper. Everyone at Omega is excited about the future as we chart a new path for 2013 and beyond.”
Omega Apparel was established in 1994 and is a leading producer of uniforms for the Department of Defense.
The company specializes in making dress pants and skirts for the Army, Navy, Air Force, Marines, and Coast Guard.
The production facility employs a workforce of more than 180 people that deliver in excess of $10 million in annual sales.
The company was acquired in 2012 by Brentwood resident Dean Wegner.
Omega announces profit sharing, Giving Back programs for 2013

