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These companies announced wage hikes, bonuses, benefits in afterglow of Trump tax reform

Melody Hahm
Senior Writer

Nearly every day another company publicly announces bonuses, wage increases or other kinds of benefits they’re offering employees since President Donald Trump signed tax reform into law on Dec. 22. 

Big box behemoths like Walmart (WMT), tech giants like Apple (AAPL) and Yahoo Finance’s own parent company Verizon (VZ) are among the latest to claim that they’re reinvesting capital into their workforce because of the lower corporate-tax rate. The timing of these particular announcements indicates how corporations are trying to curry favor with Trump.

Companies have also been burying bad news amid the rollout of positive, splashy reports. The same day that Walmart announced a minimum wage hike, bonuses and expanded parental leave benefits, the company abruptly closed 63 Sam’s Club stores and laid off thousands of workers. 10 of the closed megastores will become e-commerce distribution centers. Similarly, AT&T (T) laid off 600 employees the same week it announced bonuses for 200,000 workers.

Companies lauding the tax plan

This corporate speak continues to trickle out of fourth-quarter earnings calls, but it remains uncertain just how material the impact of corporate tax reform will be for average employees. 

Here’s a comprehensive list of companies and what they’re offering employees, post-tax cut, courtesy of Strategas Partners, Americans for Tax Reform and original reporting. Industries range from airlines to wineries, promising everything from $1,000 bonuses to planting more vines.

  1. 1st Summit Bank$1k bonuses to full-time employees; salary raises; increased charitable donations
  2. AAON: $1k bonuses for 2,000 employees
  3. AccuWeather: Year-end bonuses for 450-500 employees
  4. Advance Financialincrease in 401(k) match
  5. Aflac (AFL): Increase 401(k) match from 50% to 100% on the first 4% of compensation plus a one-time $500 contribution to every employee’s 401(k)
  6. Alaska Airlines (ALK)$1k bonuses for 22,000 employees
  7. Amarillo National Bank: $1k bonuses for 313 employees
  8. American Airlines (AAL): $1k bonuses for ~127,600 employees
  9. American Bank: $1k bonuses for 60 employees
  10. American Community Bank & Trust$500 bonuses to all employees, hiring more employees
  11. American Express (AXP): Incremental investment in employee profit-sharing plans
  12. American Savings Bank: $1k bonuses for 1,150 employees, minimum wage increase to $15.25
  13. AndyMarkHiring more employees
  14. Anfinson Farm Store$1k bonuses, 5% pay raises for employees
  15. Apple (AAPL): $2,500 bonuses in restricted stock units, hiring 20,000 new employees
  16. Aquesta Financial Holdings: $1k bonuses for 95 employees, minimum wage increase to $15
  17. Associated Bank: $500 bonuses for all hourly employees, minimum wage increase to $15
  18. AT&T (T): $1k bonuses for 200,000 U.S. employees
  19. AutoNation: doubling 401(k) match, launch of cancer benefit program
  20. Ball Ventures$100 bonuses for every year of employment
  21. BancorpSouth Bankpay raises for ~70% of employees, bonuses for ~20% of employees
  22. Bank of Advance$1k bonuses to all employees
  23. Bank of America (BAC): $1k bonuses for 145,000 U.S. employees
  24. Bank of Colorado$1k bonuses to all full-time employees
  25. Bank of Hawaii: $1k bonuses for 2,074 employees, minimum wage increase to $15
  26. Bank of the James: Increase base wage to $15 for employees serving more than 1 year; increased employee vacation days
  27. Bank of the Ozarks: Incentive bonus plan for 2,300 employees of up to $1,200
  28. BB&T (BBT): $1,200 bonuses for 27,000 employees, minimum wage increase to $15
  29. Berkshire Hills Bancorp (BHLB): $1k bonuses to 1,000 employees, base wage increase to $15
  30. Best Buy (BBY): $1k bonuses for full-time employees, $500 bonuses for part-time workers
  31. Boeing (BA): $300 million for “workplace of the future” facilities, infrastructure, workforce development, charitable giving
  32. Cabot Oil & Gas$1,600 bonuses for employees
  33. Camden National Bank$1k bonuses to all non-executive full-time employees, $750 bonuses to part-time employees
  34. Canary LLC: Hire more employees
  35. Capital One (COF): Raising minimum wage to $15
  36. Cedar Rapids Toyota$500 bonuses to full-time employees
  37. CenterState Bank$1k bonuses to non-officer employees
  38. Central Bancompany$1k bonuses to full-time employees, $500 bonuses for part-time employees
  39. Central Pacific Bank: $1k bonuses to 850 employees, minimum wage increase to $15.25
  40. Charlotte Pipe & Foundry Company$1k bonuses to all 1,400 employees
  41. Charter Communications (CHTR): Raising base wage to $15
  42. Citizens Financial (CFG): $1k bonuses for 12,500 employees
  43. Clayton Distillery: Upgrade facilities
  44. College of the Ozarks$204 bonuses for employees
  45. Comcast (CMCSA): $1k bonuses for 100,000 employees
  46. Comerica (CMA): $1k bonuses for 4,500 employees. base wage increase to $15
  47. Commerce Bancshares: $1k bonuses for 3,450 full-time employees; $250 bonuses for eligible part-time employees
  48. Community Trust Bancorp: $1k bonuses for full-time employees; $500 bonuses for part-time employees
  49. Copperleaf Assisted Living: $200-$600 bonuses for 175 employees
  50. CVS (CVS): Raising minimum wage from $9 to $11
  51. Data Sales Co.$1k bonuses for all 80 employees
  52. Dayton T. Brown: $400 bonuses for all 210 employees
  53. Delaware Supermarkets: $150 extra bonuses for 1,000 non-management personnel
  54. DePatcoEmployee bonuses
  55. Dime Community Bank (DCOM): $1k bonuses for non-executive employees
  56. Discover Financial Services (DFS): Raising base wage to $15.25 for “virtually all” ~7,000 full-time employees
  57. Disney (DIS): $1k bonuses for 125,000 employees, $50M investment in employee education
  58. DTN$1k bonuses to ~700 employees
  59. Eagle Ridge RanchEmployee bonuses
  60. EastIdahoNews.comEmployee bonuses
  61. Elite Roofing SystemsEmployee bonuses
  62. Elite Clinical TrialsEmployee bonuses
  63. Emkay: $1k bonuses for all 150 full-time employees
  64. Employers Mutual Casualty Insurance: $1k bonuses for employees for those below the VP position
  65. Ennis: $500 bonuses for 2,200 non-management employees
  66. ES Bancshares$500 bonuses to non-executive full-time employees, $250 bonuses to part-time employees, creating 10 new jobs
  67. Express Employment Professionals: $2k bonuses for ~200 non-executive employees
  68. FedEx (FDX): $3.2 billion in wage increases, bonuses, pension funding
  69. Fiat Chrysler (FCAU): $2k bonuses for 60,000 employees, creating 2,500 new jobs
  70. Fifth Third Bancorp (FITB): $1k bonuses for 13,500 employees, base wage rises to $15
  71. FireBird BronzeOffering health insurance to its nine employees for first time, upgrading equipment, hiring
  72. First Bank and Trust CompanyBase wage raised to $15
  73. FirstCapital Bank of Texas: $500 bonuses for 197 employees
  74. First Farmers Bank and Trust: $750 bonuses for full-time employees
  75. First Financial BancorpBase wage raised to $15
  76. First Financial Northwest: $1k bonuses to all 138 non-executive employees
  77. First Hawaiian Bank: $1,500 bonuses for 2,264 employees, base wage increases to $15
  78. First Horizon National Corp.: $1k bonuses for 4,000 employees
  79. First Merchants Corporation$1 wage increase for hourly employees, $500 bonuses for full-time employees excluding senior management
  80. First Midwest BancorpBase wage increase to $15, $1,035 bonuses for 85% of employees
  81. First National Bank$1k bonuses for its 44 employees
  82. Fishbeck, Thompson, Carr & Huber engineering$1,500 bonuses to all 400 employees
  83. Flemington Car & Truck$500 employee bonuses
  84. Flushing Financial Corporation (FFIC): $1k bonuses for full-time employees, $500 bonuses for part-time employees
  85. FNB Corporation (FNB): Extra 401(k) contributions totaling $1M, base wage raised to $15
  86. Fort RanchEmployee bonuses
  87. Fulton Financial Corporation (FULT): Base wage raised to $12, bonuses in form of additional week of pay for 2,775 employees
  88. Gardner CompanyEmployee bonuses
  89. Gate City Bank: $1k bonuses for 538 non-management personnel
  90. Great Southern Bancorp (GSBC): 1,200 employees receive bonus (full-time get $1k, part-time get $500)
  91. Great Western Bancorp (GWB): Base wage raised to $15, $500/wage increase for 70% of workforce
  92. Group 1 Automotive (GPI): $500 cash bonuses for non-management dealership employees
  93. Gulf Coast Bank & Trust: Increase base wage to $12 
  94. HarborOne Bank: $500 bonuses for 600 employees, base wage raised to $15
  95. Hartford Financial Services Group (HIG): $1k bonuses for 9,500 employees
  96. Hawaii National Bank$1k bonuses
  97. Heartland Bank$1k bonuses for full-time non-executive employees, $500 bonuses to part-time employees
  98. Home Bancshares (HOMB): $500 bonuses for 850 employees
  99. Home Depot (HD): Up to $1k bonuses for all hourly employees
  100. HomeStreet (HMST): Base wage increased to $15
  101. Honeywell (HON): Increasing 401(k) match
  102. Humana (HUM): Base wage increased to $15
  103. IAT Insurance Group: $3k bonuses for 685 non-executive employees
  104. INB Bank$500 bonuses to 200 employees (excludes senior management), base wage raised to $15
  105. JetBlue (JBLU): $1k bonuses for all 21,000 employees
  106. Jordan Winery$1k bonuses for each of its 85 employees
  107. JPMorgan Chase (JPM): 22,000 employees will get base wage raised from $12-$16.50 up to $15-$18, opening up 400 new branches, hiring 4,000 new employees
  108. Kalb Industries of NevadaPay raises for employees who have been with the company for 3+ months
  109. Kansas City Southern: $1k bonuses to eligible employees
  110. Kauai Cattle: Employee bonuses
  111. KeyCorp (KEY): Raise base wage, increase retirement plan contributions (impacts >80% of workforce)
  112. Kish Bancorp$1k bonuses for full-time employees, $500 bonuses for part-time employees
  113. Lawrence Paper Company$500 bonuses for all 300 employees
  114. M&T Bank Corporation (MTB): Base wage raised to $14/$16 (based on location), employees receive 40 hours of paid time annually for volunteer activities
  115. MainSource Financial Group (MSFG): Base wage raised to $15
  116. MB FinancialBase wage raised to $15
  117. Melaleuca: $100 bonuses for each year worked for 2,000 employees
  118. Meridian Bancorp (EBSB): Base wage raised to $15, additional 20% added to exiting bonuses, six new branch locations
  119. Mid-AM Metal FormingBonuses for all 140 employees
  120. MusicNotes3% salary increase for all 55 employees
  121. National Bank Holdings Corporation: $1k bonuses for employees earning <$50k
  122. Nationwide: $1k bonuses for 29,000 employees, increased 401(k) matching contributions
  123. Navient (NAVI): $1k bonuses for ~6,566 employees (98% of total)
  124. Nelnet: $1k bonuses for 4,100 employees
  125. Nephron Pharmaceuticals: 5% raise for its 640 employees
  126. NexTier Bank$1k bonuses for all employees, tuition reimbursement on job training
  127. Nexus Services5% raise for all employees, hiring 200 more workers in 2018
  128. Northpoint ApartmentsEmployee bonuses
  129. OceanFirst Financial (OCFC): Increase base wage to $15
  130. Ohnward Bancshares: $1k bonuses for all 260 employees
  131. Old Dominion Freight Line$500 bonuses for all 22,000 employees
  132. Peoples Bank (Washington)Base wage raised to $15, 401(k) match increased one point to 8%
  133. Peoples Bank (Arkansas): $500 bonuses
  134. Pinnacle Bank: $1k bonuses for 1,007 employees
  135. Pioneer Credit Recovery: $1k bonuses for 800 employees
  136. PNC Financial Services Group (PNC): $1k bonuses for 47,500 employees base wage hike to $15
  137. Regions Financial Corporation (RF): Increase base wage to $15 
  138. RGF Environmental Group$1k bonuses
  139. Royal Hawaiian Heritage Jewelry: Open more stores, hire more employees
  140. Rush Enterprises: $1k bonuses for all 6,600 employees
  141. Russell Lands$500 bonuses for ~400 full-time non-management staff
  142. Sheffer Corporation$1k bonuses for all 126 employees
  143. Sinclair Broadcast Group: $1k bonuses for 9,000 employees
  144. South Point Hotel, Casino & SpaDoubling bonuses for 2,300 employees ($500-$2300 range)
  145. Southwest Airlines (LUV): $1k bonuses for 55,000 employees
  146. Spellex Corporation$1k bonuses for all 26 full-time employees
  147. Starbucks (SBUX): Wage increases, stock grants to eligible employees, expanded family sick time and parental leave benefits, creating 8,500 new jobs
  148. State Street Corporation (STT): Improve employee retirement benefits, training
  149. Stifel Financial (SF): $1,500 bonuses for 7,000 employees
  150. Summit State Bank: $2k bonuses for 78 non-executive employees
  151. SunTrust Banks (STI): $1k incentive for employees that complete company’s financial fitness program, base wage raise to $15
  152. Synovus Financial Corporation$1k bonuses to all non-executive employees
  153. TCF Financial: $1k bonuses for full-time employees; $500 bonuses for part-time employees 
  154. The Flood Insurance Agency$1k bonuses for 17 full-time employees
  155. Thermo Fisher Scientific (TMO): $500 bonuses
  156. The Travelers Companies (TRV): $1k bonuses for 14,000 employees, base wage raised to $15
  157. Territorial Savings Bank: $1k bonuses for 247 employees, base wage hike to $15
  158. Texas Capital Bank: $1k bonuses for 900 employees
  159. Tiffany & Co. (TIF)Increased spending in tech, marketing communications, visual merchandising, digital & store presentations
  160. Total System Services (TSS): $1k bonuses for 11,500 employees
  161. Turning Point Brands: $1k bonuses for 107 employees
  162. United Bank & TrustSalaries & hourly employees receive raise of $100/month
  163. Unity Bank: $750 bonuses for all employees except executive management
  164. US Bancorp (USB): $1k bonuses for 60,000 employees
  165. Verizonnon-executive employees receive 50 shares of restricted stock
  166. Visa (V): increased contributions to employee 401(k) accounts
  167. Walmart (WMT): Increase starting wage to $11; expand maternity and paternal leave benefits; one-time cash bonus for eligible associates of up to $1k
  168. Washington Federal: Provide 5% increase in addition to normal merit increase for employees earning <$100k; invest in employee training programs
  169. Washington Trust Bancorp$1k bonuses for full-time employees, $500 for part-time employees
  170. Waste Management (WM): $2k bonuses to 34,000 eligible employees
  171. Webster Financial CorporationBase wage raised to $15, $1k bonuses to full-time employees below VP level
  172. Wells Fargo (WFC): Increase base wage from $13.50 to $15
  173. Western & Southern Financial Group$2k bonuses for full-time employees, $1k bonuses for part-time employees
  174. Western Alliance Bancorporation: Increase wages 7.5% for the lowest-paid 50% of employees
  175. White Pine Winery: Planting more vines
  176. Windsor Federal: $250 bonuses for employees except senior management
  177. YAM Worldwide$2k bonuses for 595 employees who have been with the company for 6+ months, $1k bonuses for 131 employees who have been with company for <6 months
  178. Yancey Bros.: $500 bonuses for all 1,200 employees
  179. Zions Bancorp (ZION): $1k bonuses for 80% of employees

Melody Hahm is a senior writer at Yahoo Finance, covering entrepreneurship, technology and real estate. Follow her on Twitter @melodyhahm.

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