Joining Apple, Walmart and others, Starbucks to boost pay, benefits after U.S. lowers corporate taxes

“Starbucks Corp will use some of the savings from the new U.S. corporate tax cuts to give domestic employees pay raises, company stock and expanded benefits with a combined worth of more than $250 million, the company said on Wednesday,” Lisa Baertlein reports for Reuters. “With the announcement, the world’s biggest coffee chain joins companies like Walmart, Apple Inc, Comcast Corp and American Airlines Group Inc in sharing tax savings with employees.”

Baertlein reports, “Credit Suisse analyst Jason West recently estimated that Starbucks’ global tax rate could fall to about 24-25 percent from around 33 percent, which would drive roughly $425 million in annual tax savings.”

Seattle-based Starbucks said it will give hourly and salaried employees, who received pay raises in January, a second wage increase in April,” Baertlein reports. “It is giving additional stock grants to eligible employees on April 16. Coffee shop workers will receive a grant of at least $500 and store managers will receive $2,000 grants.”

Read more in the full article here.

MacDailyNews Take: Congrats, Starbucks employees!

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28 Comments

    1. We are at almost full employment and wages have been going up- true since before Drumpf assumed office. Do you want to take credit for the sun rising this morning as well?

      Nice US Chamber of Commerce coordinated meme, but the truth lies elsewhere.

      1. is so juvenile DavGreg. To attribute the economic gain absolutely to Trump is presumptuous, as economics isn’t a science and emotion is involved as much any other component. At the same time, the consistency of data, makes “happen-chance” a tough sell. The concrete effect of the “velocity of money” is playing strongly here. When in effect, people see opportunity and optimism characterizes the day. Is it all a result of Don, like he claims? I’d say no, but one would be in denial, or have bias blockage to say he’s played no part. Your usage of “Drumpf” would lead me to believe you’re under the bias-blockage affect.

      2. The general shift to a business-friendly administration, as opposed to a business punitive administration, has had a dramatic effect. Job numbers were creeping up, trickling through a wall of possible higher taxes and unpredictable economic shenanigans on the part of the Obama Administration. The push to reform taxes cleared the path for new jobs and new business spending, much like giving the economy a giant enema after 8 years of Obama. I.e. the truth is Trump as created jobs, wealth, and economic activity after 8 years of shit blockage.

        Continuing to deny this only highlights the fact that liberals depend on absurdity, hypocrisy, fear and pure hate to express their opinions. Heavy on the absurdity.

        Under 8 years of Obama, black unemployment hit the highest levels ever. Under one year of Trump black unemployment has hit the lowest level ever. Damn good for a racist. Hispanic employment is also at record lows.

        Economists credit trump. ( Except for morons like the NY Times Krugman, who is just choking on his own lies right now.) Even Tim Cook had to choke out credit for Trump, after 8 years of begging for a tax break from Obama and getting nothing.

        I still, to be honest, think wage growth could be better.

        I’m personally seeing IT Budgets with clients increasing for 2018. One more is going ahead with moving everyone to Macs from Windows.

        Nothing Obama did is responsible for the announcement of companies creating job development programs, new construction, raising benefits, bonuses, and salaries. That’s all tax break.

        1. “I still, to be honest, think wage growth could be better.”
          Flipping to be a liberal, eh? 🙁 Next thing you know, you’ll be saying that the baristas should have just gotten a bigger tax break so they can keep more of their money PLUS the raise.

          1. Everyone receiving Trump tax break crumbs, please send your crumbs back to me, Nancy Pelosi, where my comrades and I can foolishly piss it away under the meme ‘making your life better’.

    1. The tax relief effort generally benefits the wealthiest of the wealthy. Trump and his family and all his businesses will reap the benefits of these changes years down the road. It’s in easy way to put money in his pocket.

      1. Yes, Starbucks’ baristas. The wealthiest of the wealthy.

        Parroting MSNBC/CNN/ABC/NBC/CBS doesn’t make you sound very smart. Think for yourself for a change. Think Different.

      2. It is one thing when a certain political party that is full of very wealthy politicians and have the backing of extremely wealthy clientele suck all the money they can from businesses and shame them for not sharing the wealth . . .
        . . . and another thing when the other political party let companies grow so that they CAN share the wealth.

        And then there are the haters who hate to see the other side prosper. It isn’t about helping people get more income, it is about tearing down the people that ACTUALLY help them. The REAL haters in this world are the groups that hate it when others all around them begin to succeed.

  1. But, but, but they were going to do this anyway. This is fake news. Nothing to do with the tax cuts for those filthy effing 1 %ers. This is probably the results of the extended unemployment benefits that Obama gave in 2010. Like Nanci said, for every one dollar of unemployment it returns two dollars to the economy.

  2. Reality is a bitch….especially to the Liberal Bitches.

    They’ll spend half an hour and 500 (seemingly) eloquent words to tell how all is wrong with everything that is going right and never acknowledge the despicable acts of the former President.

    I’m just glad our country is FINALLY being driven by Conservative (common sense) ideals, even if it took Trump to do it.

    The proof is in the pudding, so argue (and hope the worst for our country just so you can say “I told you so”) all you want, it’s results that count. THAT

      1. it’s a tax scam, DGreg? I guess you’re an insider and prescient?
        Does the plan have curiosities and lacking? In my book, absolutely. For one, it’s hardly simplified. As well, it’s not combined with cuts, so it’s bound to “fail” because it’s a short-term plan. On the other hand, IT IS having a stimulating effect on the business/economic/market sectors. No?
        Lastly, you consistently position yourself as having little partisan bias, but as I’ve observed over time, it’s BS. You abhor Trump and maybe didn’t vote for Hillary, but your Bernie paradigm, makes you as partisan as the next, despite your wishes to appear pure and unbiased

        1. It’s only temporary because the Dems didn’t vote for it giving it the needed 2/3 majority.

          It’s like saying the doctor didn’t help me because I refused to drive to his office….

    1. https://www.zerohedge.com/news/2016-01-15/walmart-fire-16000-it-closes-269-stores-globally

      so if they close less profitable stores to raise pay for others and give 60 days pay, training, severance to some and first choice on job selection at other nearby Wal-Marts, what else would you suggest?

      As much as the Left HATES Wal-Mart, nothing they do will EVER be considered good enough.

      They are facing off against Amazon, the new reality, just like K-Mart, Sears, Piggly Wiggly and other giant retailers have done in the past.

      1. I just hate dodging the scumbags that shop there, or else I would spend more money there. Not a day goes by that the cops aren’t called because some lowlife started a fight, tried to steal something, or is huffing paint in the aisle. Let’s not even start with the full store/one lane open philosophy that they espouse. I’ll take my business to Meijer down the road, thank you.

        1. Yes, funny how liberals hate WAR-Mart even though most of its customers in many areas are Democrats, pretty much their updated version of “Let them eat Little Debbie’s, er…cake”

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