Feb 5, 2018
After Congress gave stupendous tax breaks to the already fabulously wealthy, certain companies announced mini-bonuses for employees. Supposedly this was a step toward a wage rise for all – pretending that workers, too, will benefit from the tax bill.
But all these companies use “conditions” and job reductions to minimize the cost.
Home Depot said it would give $2,000 bonuses to its workers. Later on, it came out that the big bonus was only if you had TWENTY YEARS’ seniority! Ever been in a Home Depot store? You know how few workers have been there 20 years!
FedEx said it would put $200 million toward employee raises. Later on, it came out that the raises were scheduled for September anyway, and FedEx will merely start them early, in April.
Fiat Chrysler FCA said they would give workers a $2,000 bonus. But only to “eligible” employees. They have not defined what they mean. But Chrysler is using a huge number of temporary workers to launch new Jeeps and trucks. Will they be considered “eligible?”
Then there’s Kimberly-Clark. They will use the tax savings to put 1.5 billion dollars into “restructuring.” They will close ten plants and lay off around 5,500 workers – 13 per cent of their workforce!
AT&T will give $1,000 bonuses – and continue laying off some 4000 workers.
Harley-Davidson will give no bonuses, consolidate two plants, and eliminate 350 jobs.
Not to forget Walmart, doling out a $1000 bonus and setting an $11 entry level wage, while closing 63 Sam’s Clubs and targeting 10,000 job cuts in the Walmart empire.
The main benefit to workers is one more hard life lesson, that what is best for the boss is ONLY best for the boss.