Home Depot Announces Tax Reform Bonuses Up to $1,000 for Hourly Employees

By January 25, 2018Shopfloor Main

(Photo Credit: Mike Mozart/Flickr/CC BY 2.0)

Tax reform is an investment in America’s workers, allowing businesses to hire, invest, expand and grow. Manufacturers promised that, if given the opportunity, U.S. businesses would invest their savings back into their companies and their workforce. We have already seen it from AT&T, Darden, Wells Fargo, Disney and others.

U.S. home improvement supplier Home Depot, which employs 385,000 workers, is the latest to join the list. The company announced Thursday that it will use some of its savings from the historic tax reform law to offer a sliding scale of bonuses for hourly employees ranging from $200 to $1,000:

Home Depot is awarding its hourly employees in the U.S. a one-time cash bonus of as much as $1,000 following the passage of new tax legislation.

The bonus amounts will be determined based on a person’s length of service, similar to Walmart’s strategy. All of Home Depot’s U.S. hourly workers will get at least a $200 bonus, a spokeswoman told CNBC, and the maximum payout is $1,000 for workers who’ve served at least 20 years.

The company said it would provide more details on its future investment plans in February.

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