Home Depot Latest Company to Award Employee Bonuses on Passage of U.S. Tax Law
Home Depot Inc. (HD) - Get Report is the latest corporation to reward its employees with a one-time bonus or added benefits thanks to the $1.25 trillion U.S. tax bill that was passed late last year.
Home Depot's hourly employees in the U.S. will receive up to $1,000 in the fourth quarter of fiscal 2017. Home Depot said the bonuses, in addition to a net tax expense of about $150 million, will negatively impact its full-year diluted earnings by 19 cents a share.
Here's a roundup of some of the most high-profile companies to announce bonuses following passage of the tax bill:
Aflac Inc. (AFL) - Get Report is contributing $500 to the 401Ks of all of its companies.
Alaska Air Group Inc. (ALK) - Get Report gave $1,000 bonuses to most of its employees.
Action Alerts Plus holding Apple Inc. (AAPL) - Get Report is giving employees a bonus $2,500 worth of restricted stock units.
American Airlines Group Inc. (AAL) - Get Report gave $1,000 bonuses to all employees except officers.
AT&T Inc. (T) - Get Report gave $1,000 bonuses to 75% of its employees.
Bank of America Corp. (BAC) - Get Report gave $1,000 bonuses to all employees in the U.S. making less than $150,000 a year.
Boeing Co. (BA) - Get Report will spend $100 million on capital expenditures, $100 million in workforce development and another $100 million in charitable donations.
Action Alerts Plus holding Comcast Corp. (CMCSA) - Get Report gave $1,000 bonuses to about 63% of its employees.
Walt Disney Co. (DIS) - Get Report will give more than 125,000 eligible employees a one-time bonus of $1,000 and contribute $50 million to an education fund for employees.
Action Alerts Plus holding JPMorgan Chase & Co. (JPM) - Get Report will spend $20 billion over five years to raise the pay of some employees and open 400 new branches.
PNC Financial Services Group Inc. (PNC) - Get Report is contributing $1,5000 in employee pension accounts, as well as raising base wage to $15, and offering $200 million in charitable contributions.
Southwest Airlines Co. (LUV) - Get Report will give all employees a $1,000 bonus in addition to making $5 million in charitable donations.
SunTrust Banks Inc. (STI) - Get Report increased its base wage to $15 an hour and made additional 401K contributions.
U.S. Bancorp (USB) - Get Report will raise its base wage to $15 an hour and make a $150 million charitable contribution.
Walmart Stores Inc. (WMT) - Get Report is giving bonuses of up to $1,000 and increasing its starting wage to $11 an hour while also expanding parental leave and adoption benefits.
Wells Fargo & Co. (WFC) - Get Report raised its base wage to $15 an hour from $13.50 an hour and pledged $400 million in charitable donations for 2018.
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