But people are going to die… or something.
Starbucks plans to spend $250 million on new employee benefits, including a pay boost for domestic workers, in the wake of the federal tax overhaul.
The coffee chain will increase pay for its 150,000 U.S. hourly and salaried employees in April, following its regular annual raise earlier this month. It’s also taking its paid-sick time benefit national, allowing workers to save up time off to use for themselves or family, Seattle-based Starbucks said on Wednesday.
Starbucks (SBUX, -2.04%) becomes the latest U.S. company to pledge a portion of its federal tax-cut windfall to employees, which the coffee giant calls “partners.” Applesaid earlier this month that it’s giving most of its staff a $2,500 bonus. Wal-Mart Stores, meanwhile, plans to hike its starting wage to $11 an hour and give out $400 million in one-time bonuses.
Remember, Starbucks employees… not a single Democrat voted for the tax reform. It it were up to them, you wouldn’t be getting a raise.
As a non-student of the politics of particular businesses, I must admit to a limited knowledge but isn’t Starbucks a bastion of progressives with PC correct cups and such? If my memory is correct, is it appropriate for Starbucks to share its’ tax windfall with employees? Or, if this is one of those ‘redistribute wealth’ things, shouldn’t the CEOs of the other companies just keep the money for cigars and interns?