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FedEx to give wage increases, bonuses to workers

  • Fed Ex said Friday that they’re raising employee compensation by $200 million
  •  There’s also a $1.5 billion contribution headed to the company pension plan
  • It’s the latest of several major corporations to use the GOP tax cut in order to offer their employees financial benefits 

FedEx says it’ll be giving wage increases, bonuses and make a voluntary $1.5 billion contribution to the company’s pension plan, citing recent tax reform legislation.

The package delivery company follows others doing the same, including Home Depot, Disney, Starbucks and Walmart.

FedEx Corp. said Friday that it’ll raise compensation by more than $200 million, with about two-thirds going to hourly workers by pushing up this year’s annual pay increases to April 1st from the normal October date. The rest of the money will fund increases in performance-based incentive plans for salaried personnel.

FedEx is going to invest $1.5 billion into their employees payment and benefit plans after the GOP tax bill’s passage 

The company said it will also invest $1.5 billion to expand its FedEx Express facility in Indianapolis over the next seven years. Later this year it will announce plans to modernize its Memphis hub.

FedEx joins several other companies including Walmart, Disney and Home Depot in reinvesting in their employees following the Republican tax plan. Formally called the Tax Cuts and Jobs Act, it went into affect January 1 of this year and won’t affect 2017 taxes.

The GOP tax bill, or the Tax Cuts and Job Act, went into effect on January 1

The GOP tax bill, or the Tax Cuts and Job Act, went into effect on January 1

FedEx joins companies like Walmart, Home Depot and more in using the tax bill to help employees

FedEx joins companies like Walmart, Home Depot and more in using the tax bill to help employees



Read more at DailyMail.co.uk


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