Starbucks expands jobs, benefits and raises thanks to tax reform

starbucks-TPP-Blog-1.24.18

Starbucks announced Wednesday that they will create 8,000 new jobs and 500 manufacturing positions along with spending $250 million on pay increases, new jobs, employee benefits and stock options for their partners at the company’s stores. The coffee giant cites the “recent changes in the U.S. tax law” for its decision.

The Washington Examiner has the details:

Starbucks announced Wednesday it will spend $250 million on pay increases, new jobs, and stock options for its 150,000 partners at the company’s stores, plants, and support centers starting Jan. 1.

The coffee mogul cited “recent changes in the U.S. tax law” for its decision to boost employee benefits and create 8,000 new retail jobs and 500 manufacturing positions at its Augusta, Ga., plant.

On April 16 — the day after the individual tax filing deadline — the Seattle-based company will dish out $100 million in stock options to workers. Hourly retail employees will receive complimentary $500 stock shares and store managers will get $2,000.

Starbucks also launched the Partner and Family Sick Time benefit, which will give all eligible U.S. partners the ability to accrue paid sick time based on hours worked. Employees will earn one paid sick hour for every 30 hours worked. For example, an employee who works 23 hours per week will earn five sick days per year.

This announcement by Starbucks is yet another example of President Trump’s tax reforms working to help American workers and our economy. It’s working!