Starbucks gives workers raises, stock grants, cites tax law
Starbucks is giving its U.S. workers pay raises and stock grants this year, citing recent changes to the tax law.
All employees will soon be able to earn paid sick time off, and the company’s parental leave benefits will include all non-birth parents. Starbucks Corp. said Wednesday the changes affect about 150,000 full-time, part-time, hourly and salaried employees, most of whom work as baristas or shop managers.
The company is the latest to say it’s boosting pay or benefits due to the passage of the Republican tax plan, which slashed the corporate tax rate from 35 percent to 21 percent. Historically low unemployment rates have also meant job seekers can be pickier, and retailers were under pressure to raise wages before the tax changes.