More than 125 companies reveal new rewards for employees in wake of historic tax law
Employees of Chipotle Mexican Grill will soon receive new bonuses and other benefits thanks to the Trump tax cuts.
The company stated Wednesday that its hourly employees are now eligible for $250 bonuses while general managers could receive $1,000. A range of employees will also be offered expanded training programs, parental leave, life insurance and short-term disability insurance coverage.
Chipotle, which currently employs more than 71,000, released the news less than two months after President Trump signed a historic tax bill intended to encourage U.S. businesses.
“We have always been proud of our ability to attract and retain top talent who share our passion for cooking delicious food by hand and creating an extraordinary guest experience,” Steve Ells, Chipotle’s chairman and CEO, said in a statement. “We’re giving back to these committed, motivated, and hardworking team members who have made Chipotle what it is today.”
The restaurant is just the latest company that has announced rewards for its employees following passage of the tax law.
Disney announced in January that it would give $1,000 bonuses to 125,000 employees.
Haim Saban, founder of Saban Capital Group, also told employees earlier this month that they would receive $1,000 bonuses thanks to Trump.
Media companies AT&T and Comcast said in December that thousands of employees would receive $1,000 bonuses as well.
Home improvement giant Lowe’s similarly announced this month that 260,000 of its hourly employees would be rewarded $1,000 bonuses.
Reports indicate that more than 125 companies have announced new bonuses or benefits including Starbucks, Home Depot, JP Morgan Chase, Walmart, Wells Fargo, Alaska Airlines, Bank of America, Jet Blue and Southwest Airlines.