Home Improvement Done Right: Lowe’s To Pay U.S. Staff $1,000 Bonuses Because of Tax Cuts and Jobs Act
WASHINGTON, D.C. – Lowe’s just made a significant improvement to our economy here at home by announcing $1,000 raises for more than 260,000 hourly employees in the U.S. because of the Tax Cuts and Jobs Act.
Not only will employees receive bonuses because of the bill, but Lowe’s is also renovating their benefits package as a result, adding more paid maternity and paternity leave and providing adoption assistance benefits of up to $5,000 for qualified hourly employees.
Lowe’s follows the over 300 other companies announcing pay raises, better benefits, bonuses, increased investments, and additional hiring as a result of the Tax Cuts and Jobs Act.
Will Democrats still tell these employees that their new bonuses and benefits are “crumbs?”
To see Lowe’s full announcement, click here or see below.
To see the growing number of companies increasing wages, investments, jobs, and bonuses because of the Tax Cuts and Jobs Act, click here.
Reuters: Lowe’s to pay US staff $1,000 bonus following tax reform
February 1, 2018
Feb 1 (Reuters) – Lowe’s (LOW) on Thursday said it would pay a one-time bonus of $1,000 for more than 260,000 hourly U.S. employees as the home improvement chain takes advantage of changes in the U.S. tax code.
The company said it would also give new benefits, including additional paid maternity and parental leave and an adoption assistance benefit of up to $5,000 to qualified hourly full-time employees.
Lowe’s expects an additional net tax expense of about $75 million in the fourth quarter of 2017.
The charges and the one-time bonus, which is being paid to store, distribution center and customer and contact support centers, will hit its fourth quarter earnings per share by about 14 cents, Lowe’s said.
Lowe’s joins a list of companies that include Home Depot, AT&T, Wells Fargo and Boeing, which have promised more pay for workers since the Republican-controlled U.S. Congress passed the biggest overhaul to the U.S. tax code in 30 years.
(Reporting by Nivedita Balu in Bengaluru; Editing by Shailesh Kuber)
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