‘Bonuses To Hundreds Of Thousands Of Workers After Tax Bill’

AT&T, Comcast, Fifth-Third Bank, Wells Fargo, & Boeing Immediately Announce Plans To Raise Wages & Benefits For Their Workers

“AT&T, Comcast giving $1,000 bonuses to hundreds of thousands of workers after tax bill” (“AT&T, Comcast Giving $1,000 Bonuses To Hundreds Of Thousands Of Workers After Tax Bill,” CNBC, 12/20/2017)

• COMCAST: “Based on the passage of tax reform and the FCC's action on broadband, Brian L. Roberts, Chairman and CEO of Comcast NBCUniversal, announced that the Company would award special $1,000 bonuses to more than one hundred thousand eligible frontline and non-executive employees. Roberts also announced that the Company expects to spend well in excess of $50 billion over the next five years investing in infrastructure to radically improve and extend our broadband plant and capacity, and our television, film and theme park offerings. With these investments, we expect to add thousands of new direct and indirect jobs.” (Comcast, Press Release, 12/20/2017)

• AT&T: “Once tax reform is signed into law, AT&T plans to invest an additional $1 billion in the United States in 2018 and pay a special $1,000 bonus to more than 200,000 AT&T U.S. employees — all union-represented, non-management and front-line managers. If the President signs the bill before Christmas, employees will receive the bonus over the holidays. ‘Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world,’ said Randall Stephenson, AT&T chairman and CEO. ‘This tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees.’” (AT&T, Press Release, 12/20/2017)

FIFTH THIRD BANCORP: “Fifth Third Bancorp announces plan ‘to raise its minimum hourly wage for all employees to $15, and distribute a one-time bonus of $1,000 for more than 13,500 employees’ following passage of tax bill.” (CNBC, @CNBCnow, Twitter, 12/20/2017)

WELLS FARGO: “Wells Fargo… said it would boost its minimum wage to $15 per hour, an 11% increase from its current hourly rate of $13.50, once the law was passed. The pay raise will go into effect in March 2018, the company said.” (“AT&T, Comcast, Wells Fargo Promise Bonuses Or Pay Hikes Once Tax Cut Bill Passes,” USA Today, 12/20/2017)

BOEING: “New law boosts Boeing's competitiveness, supports long-term growth. Boeing announces immediate additional employee-related and charitable investments of $300 million as a result of new law.” (“Boeing CEO Muilenburg Applauds Tax Law,” Press Release, 1/20/2017)