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Few companies using tax cuts for pay hikes
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| Contributor | RP |
| Last Edited | RP Oct 02, 2018 05:25pm |
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| Category | Report |
| Author | Kate Gibson |
| News Date | Tuesday, October 2, 2018 10:25:00 PM UTC0:0 |
| Description | When it comes to reaping the benefits of the windfall from last year's tax cuts, it's better to be a shareholder than a wage earner, new data suggest.
Although dozens of companies announced extra pay for workers after the December tax overhaul slashed the corporate tax rate to 21 percent from 35 percent, those headline-grabbing moves are proving to be more of an exception than the rule. Eighty-six percent of the CEOs, chief financial officers and other top executives at 152 corporations said they would not raise salaries because of the tax cut, according to global consultancy Korn Ferry.
Nine of 10 companies also said they do not plan to offer employees one-time bonuses related to the deal. |
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