FedEx Commits To Employee Pay Increases Thanks To Trump Tax Cuts

FedEx announced on Friday that the Memphis-company would invest $3.2 billion toward employee pay hikes, bonuses, pension funding, and capital investment thanks to the Tax Cuts and Jobs Act of 2017, which was signed into law by President Donald Trump.

The Tennessee-based company will invest $200 million toward employee pay hikes. Two-thirds of that will go to hourly employees, while the rest will be performance-based incentives for salaried employees.

The company will also voluntarily donate $1.5 billion to its pension plan, which it called “one of the best-funded retirement programs in the country.”

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In the press release, they said that “FedEx believes the Tax Cuts and Jobs Act will likely increase GDP and investment in the United States.”

 

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