Kroger Pledges To Increase Wages And Enhance Benefits, Thanks To Trump’s Tax Cuts!
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April 17, 2018More great news on the tax cut front!
Kroger has announced that it will increase wages and enhance benefits, thanks to President Trump’s tax cuts!
Last week, Kroger said it planned to hire for 11,000 new positions, including 2,000 management roles. At that time, it said would invest $500 million in associate wages and training and development over the next three years.
The grocer has attributed the investments to more funds as result of recent tax law changes.
Among the new initiatives, Kroger is introducing a Feed Your Future program to support continuing education for all part-time and full-time associates following six months of employment. As part of the program, Kroger will offer up to $3,500 annually ($21,000 over the course of employment) to support educational advancements like high school equivalency exams, professional certifications and advanced degrees.
That’s AWESOME!
Kroger’s CEO Rodney McMullen went a little further.
“What we found through our research is people are incredibly interested in education and fearful of debt,” he told CNBC’s Sara Eisen on “Power Lunch.”
“And the other part is we thought [that] it is important to support that … in terms that it will help you get your GED, English as a second language [classes], or a college degree or MBA or whatever works for you,” he continued.
This all goes back to what President Trump said in his op-ed.
America’s competitive edge has also been restored. We significantly cut our corporate tax rate from one of the highest in the developed world, which means that American workers and businesses are finally able to win again against foreign competitors. We know that when American workers compete on a level playing field, American workers win.
We have already created 3 million jobs since the election — including more than 290,000 new jobs in manufacturing and more than 75,000 in mining and logging jobs.
On the announcement of my signing this historic tax reform, companies immediately started announcing thousands of new jobs and making enormous investments in their workers. Unemployment claims have reached a 44-year low. After years of wage stagnation, real wages are rising.
Things are changing. That’s undeniable.
h/t CNBC
