Citing the tax bill, Starbucks is throwing a bone to its workers
Starbucks is investing $250 million into increased pay and benefits for its workers, CNBC reported Wednesday. A Starbucks press release noted that this decision was motivated "by recent changes in the U.S. tax law" and will affect more than 150,000 workers.
In April, Starbucks employees will receive wage increases "based on regional cost of living" that total $120 million. The company is also doling out stock grants; baristas and other store staff will receive at least $500 grants while store managers will get $2,000 grants.
The coffee-chain behemoth is also offering more generous benefits. Employees working full time will be able to accumulate up to five paid sick days per year, and "non-birth parents" will be eligible to take up to six paid weeks off to spend time with their newborn.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Kelly O'Meara Morales is a staff writer at The Week. He graduated from Sarah Lawrence College and studied Middle Eastern history and nonfiction writing amongst other esoteric subjects. When not compulsively checking Twitter, he writes and records music, subsists on tacos, and watches basketball.
-
Kerala: one Indian state, four exhilarating ways
The Week Recommends The southwestern region pretty much has it all, from beachfront, to port metropolis, to verdant mountainside
By Scott Hocker, The Week US Published
-
Is a high-yield savings account worth having?
The Explainer They can pay up to 10 times more than a standard savings account
By Becca Stanek, The Week US Published
-
Crossword: April 15, 2024
The Week's daily crossword
By The Week Staff Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published
-
Immigration helped the US economy outpace peers
speed read The U.S. economy grew at an annualized rate of 3.2% last quarter
By Peter Weber, The Week US Published