Lowe’s is a huge company with more than 260,000 hourly employees just in the United States. With new tax reform led by President Trump, Lowe’s plans to give each employee a one time bonus of $1,000. That’s a whopping $260 million dollars back into the economy.
The company also plans to launch a new benefit campaign with up to $5,000 for qualified employees, new maternity leave benefits, and adoption assistance.
Fox business reports:
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.
Since approval of the new tax code Home Depot, AT&T, Wells Fargo and Boeing have all joined in giving bonuses and new benefits to their employees.