Home Depot Inc (NYSE:HD) is planning to give its employees a bonus thanks to the new tax reform law.
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According to Home Depot Inc, it will be handing out a one-time bonus of up to $1,000 to its hourly employees. The company notes that this bonus is in addition to the Success Sharing bonuses that its hourly employees already receive. The company didn’t say how it will determine the amount each employee gets.
“We are pleased to be able to provide this additional reward to our associates for continuing to deliver outstanding customer service,” Craig Menear, Chairman, CEO and President of Home Depot, said in a statement. “This incremental investment in our associates was made possible by the new tax reform bill.”
It isn’t just Home Depot that is handing out bonuses to its employees thanks to the tax reform. Wal-Mart Stores Inc (NYSE:WMT) also announced earlier this month that it will be handing out a one-time bonus of up to $1,000 to its hourly employees. It is also increasing the minimum wage for its employees to $11 an hour.
Starbucks Corporation (NASDAQ:SBUX) is another company that is passing on the benefits of the tax reform to its employees. This will have it increasing the wages of its employees across the U.S. This won’t affect all employees the same as the raise will vary between regions.
Walt Disney Co (NYSE:DIS) is also handing out a bonus to its employees thanks to the new tax reform law. The company is planning to give 125,000 employees a $1,000 bonus in 2018. This bonus will be split into two parts that will be paid in March, then September.
As of this writing, William White did not hold a position in any of the aforementioned securities.