Tax cuts work. Wal-Mart announces they will raise the minimum wage to $11.00 an hour, give out bonuses of $200-$1000, increase paid maternity leave to 10 weeks, and give a $5000 adoption benefit. That is awesome. I predict with Wal-Mart making this move we will see more companies follow especially in retail.
Here are other companies increasing pay, benefits, bonuses and/or charitable giving. This isn't the Whole list, but a list of companies we all know.
Aflac – increase 401(k) match from 50% to 100% on the first 4% of compensation plus one-time $500 contribution to every employee’s 401(k); $250 million increase in overall U.S. investment.
AT&T -- $1,000 bonuses to 200,000 employees; $1 billion increase in capital expenditures.
American Airlines -- $1,000 bonuses for every employee (excluding officers). The bonuses will total $130 million. AA had 127,600 employees as of Sept. 2017.
Bank of America -- $1,000 bonuses to 145,000 U.S. employees
BB&T – $1,200 bonuses for 27,000 employees; base wage will rise from $12 to $15 per hour; $100 million in charitable donations.
Boeing -- $100 million in charitable donations; $100 million for workforce development; $100 million for infrastructure and facilities
Comcast -- $1,000 bonuses to 100,000 employees; at least $50 billion investment in infrastructure in next five years
Commerce Bank – 3,450 employees will receive bonuses -- $1,000 for full time employees and $250 for part time employees; $25 million in charitable donations
Fifth Third Bancorp – $1,000 bonuses for 13,500 employees; base wage will rise to $15
JetBlue – $1,000 bonus for all 21,000 employees
Nationwide Insurance -- $1,000 bonuses to 29,000 employees; increased 401(k) matching contributions for 33,000 employees
PNC Financial Services Group, Inc. -- $1,000 bonuses to 47,500 employees; an additional $1,500 in employee pension accounts; base wage hike to $15; $200 million charitable contribution
Southwest Airlines -- $1,000 bonuses for all 55,000 employees; $5 million additional charitable donations
SunTrust Banks, Inc. – base wage raise to $15 per hour; $50 million in additional community grants; merit pay raise; additional 401(k) contributions; etc
The Travelers Companies, Inc. -- $1,000 bonuses for 14,000 employees; base wage raised to $15 per hour
U.S. Bancorp – $1,000 bonuses for 60,000 employees; base wage hike to $15 per hour; $150 million charitable contribution
Visa – significantly increased permanent contributions to employee 401(k) accounts
Waste Management, Inc. – $2,000 bonuses to approximately 34,000 employees
Wells Fargo – raised base wage from $13.50 to $15.00 per hour; $400 million in charitable donations for 2018; $100 million increased capital investment over next three years
