These companies among the S.&P. 500 have given one-time bonuses to at least some of their employees and/or have increased minimum base wages.
Apple plans to bring back the vast majority of the $252 billion in cash that it held abroad and make a one-time tax payment of $38 billion on the repatriated cash. Apple estimated that its direct impact on the American economy would total more than $350 billion over the next five years.
AT&T was among the first companies to publicly announce plans to reward employees with a one-time bonus. Its announcement came about month after President Trump’s Justice Department sued to blocked its planned merger with Time Warner.
Bank of America’s bonuses will cost the bank $145 million in 2018, or about 5 percent of the nearly $2.7 billion in savings it is expected to reap in 2018 from a lower, 21 percent corporate tax rate.
Retailers like Home Depot, Walmart and Lowe’s have tied the size of bonuses to tenure, so that only employees who have been with the company for 20 years or more will receive the $1,000 maximum that was highlighted in their announcements. Few employees meet that requirement.
The day Walmart said it would use some of its savings under the new tax bill to provide wage increases, bonuses and expanded benefits to its hourly workers, it abruptly closed 10 percent of Sam’s Club stores, drawing criticism over the timing of the two moves.