Home Depot Announces Bonuses Due to Tax Cuts

Home Depot Announces Bonuses Due to Tax Cuts

The Home Depot has announced that it will be giving employees a bonus because of the tax overhaul passed by the GOP-led Congress last month.  The company will be giving bonuses of up to $1,000 to each of its 400,000 employees.

“We are pleased to be able to provide this additional reward to our associates for continuing to deliver outstanding customer service,” Home Depot CEO Craig Menear said in a statement. “This incremental investment in our associates was made possible by the new tax reform bill.”

Employees who have been with the company for more than twenty years will receive bonuses of $1,000.  The bonus amount will then decrease incrementally depending on an employee’s tenure with the company.  The lowest amount awarded will be $200 for associates who have been with the company for less than two years.

Two hundred and sixty-five companies have announced either bonuses, wage hikes, or 401(k) matches increases because of the tax package.  The total number of Americans affected by the bonus announcements is at least 3 million Americans, according to Americans for Tax Reform.

 

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