The Starbucks Corp says it will use some of the savings from the new U.S. corporate tax cuts to give employees an extra shot in their pay checks. The bump will include pay raises, company stock and expanded benefits. Estimates of the company’s employee increases are said to be valued at more than $250 million.
Starbucks is keeping company with giants such as Walmart, Apple, Comcast, and American Airlines who have all passed along some of their tax savings to their employees.
Starbucks, which refers to its employees as “partners,” is known for above average pay and better benefits than most employers of its size.
“Investing in our partners has long been our strategy, and due to the recent changes in U.S. tax law, we are able to accelerate some significant partner investments,” Chief Executive Kevin Johnson
One credit analyst estimated that Starbucks’ new tax savings could boost its annual savings by about $425 million.
In addition to salary increases, eligible employees will receive stock grants and will soon have accrued, paid sick-time off. The company has also made inclusions for non-birth parents to take off up to six weeks of paid leave.
There are over 87,000 different drink combinations at Starbucks, according to the retailer’s website… but you see hardly any of them on the menu. Sites such asand have collected dozens of DIY drinks — from flu remedies to Harry Potter-inspired beverages. Here are some of the best. If you already feel overwhelmed by the number of choices available at Starbucks (non-fat, soy milk, extra shot…) then maybe this information isn’t for you.