Here’s the growing BIG LIST of companies reacting to the tax cuts with bonuses, more pay and expansion leading directly to new jobs:
- U.S. Bank of America employees making up to $150,000 per year in total compensation – about 145,000 teammates – will receive a one-time bonus of $1,000 by year-end.
- PNC Financial Services will give $1,000 bonus to about 47,500 workers.
- New Braunfels-based Rush Enterprises of Texas is giving each of its 6,600 employees a $1,000 bonus – a total of $6.6 million. Chief Financial Officer Steven Keller said: “You’ve got a choice – we could’ve kept it and stuffed it in the company bank account or coffers, or we can share it with the people.”
- Associated Bank in Wisconsin boosted its minimum hourly wage to $15 and paying workers a $500 bonus.
- Idaho health-care and home-products company Melaleuca Inc. is providing its 2,000 employees $100 bonuses for every year they worked for the company. The company has 147 employees who have worked for the company for 20 years or more.
- In Hawaii, Royal Hawaiian Heritage Jewelry plans to open up three more shops – in Honolulu, in Kauai and Maui in addition to its existing three shops.
- Washington Federal in Seattle will increase wages for most of its workers by 5 percent and is adding 25 people to its information-technology staff.
- Aquesta Financial Holdings in Cornelius, N.C., will raise hourly pay to $15 and will be giving $1,000 bonuses to all of it workers.
- Canary LLC announced it will hire new employees and purchase more equipment.
- First Hawaiian Bank said it will give out $1,500 cash bonuses to 2,264 employees, or all but 11 members of its senior management team. The state’s largest bank also will increase its minimum wage to $15 an hour from $12.75 an hour for 613 employees.
- Bank of Hawaii, the state’s second-largest bank, said it will give out $1,000 cash bonuses to 2,074 employees, or 95 percent of its workforce. The bonuses affect all employees below the senior vice president level. The bank also will increase its minimum wage to $15 an hour from $12 an hour.
- American Savings Bank, the third-largest bank in Hawaii, said it will award $1,000 bonuses to nearly all of its employees. In addition, the bank said it was increasing its starting wage to $15.25 an hour from $12.21 an hour.
- AT&T expanding its bonus program to an additional 200,000 staffers getting $1,000 apiece.
- Boeing gift of $300 million in investment in its employee-related charitable program “to support our heroes, our homes and our future.”
- Wells Fargo raises minimum wage to $15.
- Fifth Third raises minimum wage to $15 and offering bonuses of $1,000 to 13,000 employees.
- Comcast NBC Universal anted up $1,000 bonuses to more than 100,000 non-executive employees.
Source: THE BIG LIST OF TAX-CUT PAYOFFS