Starbucks Will Spend $250 Million On Worker Benefits

Starbucks Corp. just joined the growing list of US corporations that are boosting pay for workers thanks to the Trump tax cuts.

The company revealed Wednesday morning that it plans to spend $250 million on new employee benefits - including a pay boost for domestic workers, in the wake of the federal tax overhaul, Bloomberg reported.

Starbucks

The coffee chain will increase pay for its 150,000 US hourly workers and salaried employees in April, following its regular annual raise earlier this month. It's the latest US corporation to pledge to spend a portion of its federal tax-cut windfall this month. The company is also giving an extra 2018 stock grant to US employees, and sick time will expand parental leave to include non-birth parents.

“Investing in our partners has long been our strategy,” Starbucks Chief Executive Officer Kevin Johnson said in a memo to employees.

“Due to the recent changes in U.S. tax law, we are able to accelerate some significant partner investments.”

Unlike Wal-Mart, Starbucks isn’t touting a new starting wage. The coffee giant says the new level will vary by region, and it already pays more than the minimum wage in all 50 states.

Starbucks also has been investing in mobile technology to fix congestion at pickup counters in the U.S., where sales have struggled to keep pace with international growth. The company is slated to give investors an update on its progress when it reports earnings on Thursday.

Yesterday, both JP Morgan Chase & Co. and Disney  announced wage hikes and bonuses for employees. JPM also said it would embark on a $20 billion plan to expand its branch locations.

Comments

NoDebt Wed, 01/24/2018 - 09:46 Permalink

If we aren't careful this might keep going and stoke wage inflation (the only kind of inflation the Fed ever really cared about, by the way)... and then the game will change in ways few would anticipate.

 

Philo Beddoe Wed, 01/24/2018 - 09:49 Permalink

I love coffee. Hooked. True fucking addict. However, when I am craving for a coffee and all I can find is a Starfucks I will do without. Hate the concept of that place that much. If the coffee comes with a straw, heat protector, a retarded message and a snotty sales clerk with tattoos and a ring through its nose it aint worth fucking drinking. 

Coffee should be cheap and served by old ladies with beehive hairdoos and cigarettes hanging out of their mouths. 

 

shitshitshit Wed, 01/24/2018 - 09:52 Permalink

Twice as much as Disney in bonuses, whereas less sales proceeds. 

That means only one thing: the proportion of goyim is lower. 

And I don't drink any coffee btw. only the national Russian beverage: tea. 

insanelysane Wed, 01/24/2018 - 09:58 Permalink

My local newspaper in Massachusetts had an article on the tax cuts.  They spent 5 paragraphs on how the state and local tax cap of $10k is going to screw the rich people that own expensive homes and how this was bad and then they threw in a paragraph at the end stating how Trump's tax cuts help the rich and screw the poor.  Choked on my Fruit Loops.

Justin Case Silver Savior Wed, 01/24/2018 - 10:56 Permalink

I would pay $10 for a cup of drip coffee. Enjoy.

“I want to thank you for making Starbucks the $6.4 billion global company it is today… Every latte you drink at Starbucks is a contribution to the close alliance between the United States and Israel, in fact it is — as I was assured when being honored with the “Israel 50th Anniversary Friend of Zion Tribute Award” — key to Israel’s long-term PR success. Your daily frappucino helps pay for student projects in North America and Israel, presenting them with the badly needed Israeli perspective of the Intifada.”

Starbucks CEO Calls Himself ‘an Active Zionist
http://www.arabnews.com/node/281313

In reply to by Silver Savior

insanelysane Wed, 01/24/2018 - 10:03 Permalink

I don't go to Starbucks and the last thing I want is for some 20-something that has $100k in student loans for a degree in English and works pouring coffee for a living to have a discussion with me about social justice.  The same goes for 20-something kneeling pro football players that got a free diploma (no education) for playing a sport.  The coaches don't take advice from their 20-something players about football and they expect people outside of football to listen to their opinions about social justice.  ???

Justin Case Savvy Wed, 01/24/2018 - 10:48 Permalink

Folgers Coffee is a brand of coffee in the United States, part of the food and beverage division of The J.M. Smucker Company. Since the early 1990s, it has been the largest-selling ground coffee in the United States. That makes you a minority. Everyone's taste is different so it doesn't matter what you like, b/c that's personal. I can't stand McD or Tim Hortons swill. I'd rather drink an instant coffee than that skunk piss.

All instant coffee tastes like baboon piss. I only drink ground coffee.

In reply to by Savvy

Agent P Wed, 01/24/2018 - 10:03 Permalink

Headline: Starbucks is spending $250 million on worker benefits.

Translation: Free coffee for all Starbucks workers during the third week of February. 

Silver Savior Wed, 01/24/2018 - 10:05 Permalink

I been going to Starbucks practically every day since 2003. I only order drip coffee and there is something I get a kick out of. 

I get my coffee right after I pay these other people spend double or triple what I do and they stand there 10 minutes maybe 20 waiting for their overly complex excessive drink.

I could never work there even though I want to. The customers suck and pick at every little thing. And if they don't get their way they throw a tantrum.

I don't know how many times I sat there and watched people complain I just want to get up and deck them.

VideoEng_NC Wed, 01/24/2018 - 10:11 Permalink

My industry does corporate shows, live events, no screwing up unless it's the blue MS screen of death.  Learned a few years ago talking with a work mate that this company, in order to achieve that uniform taste, has to slightly burn the beans during roasting.  Part of the process when you're buying beans globally.  How accurate was his info?  It was backstage from one of their exec's at their event.  After learning this I started looking for any other coffee shop, I'd rather do Dunkin's...wicked awesome.

DeadFred VideoEng_NC Wed, 01/24/2018 - 10:16 Permalink

Trump's tax plan (and regulatory reform) is allowing companies to pass on savings to the employees but I wonder if Trump understands what this does to the dollar? All those billions stashed away overseas coming back into an economy that has had trillions created to try to overcome the deflation caused in part by the slowing velocity of money. What happens when many billions flow back in and people have a sense of improvement and companies give more to their employees and start making investments? The game was rigged for so long that any real inflation and rise in interest rates may blow the whole system apart. Is that the goal? Is that why Trump isn't messing with the Fed, because he knows the Ponzi financial system is about to die? I can't imagine any scenario where the Deep State is taken down (as it seems it is starting to happen) and the Federal Reserve Note survives. Does he have a plan for that?

In reply to by VideoEng_NC

Silver Savior Wed, 01/24/2018 - 10:17 Permalink

I wonder if I will get a stimulus raise or something? Umm no because the money is all going to new hires who walk around and do nothing at work. 

I been at my work 12 years but the pay for new hires is creeping toward what I make. I should cash out my 600 hours of rolled over vacation and come back as a new hire and get a raise! 

For you who grumble about lousy customer service at big box stores the old time workers are being pushed out for new hires with shitty work ethics.

The_Juggernaut Wed, 01/24/2018 - 10:17 Permalink

Big deal.  So Trump got the big corps to shell out a little extra to their underpaid employees.  Hillary would have reached into their wallets to do the same thing and given some of it to people who don't work, too.  Just think of all the winning she would have done.

ElTerco roadhazard Wed, 01/24/2018 - 10:57 Permalink

Never complain about money going to the front line workers who are the ones who actually deserve it. If the tax cut resulted in Corporate HQ across the US doing something right for a change, then great. Getting that money into the hands of real workers is what causes economic growth instead of the fake growth where CEOs take all the money.

In reply to by roadhazard

Vageling Wed, 01/24/2018 - 10:34 Permalink

How these muppets manage to stay in business is mind boggling. Dunno what they sell but that black stuff ain't coffee. But I guess they know that hence these added little flavors.

Panic Mode Wed, 01/24/2018 - 10:38 Permalink

All these big corps recoup money back but use the most benefit average people excuse.

Like Apple & Amazon, create more jobs. Give me a fucking break.

mily Wed, 01/24/2018 - 10:55 Permalink

Soo this is the plan agreed at Bilderberg's? "tax cut" and bonuses to the sheeple? I reckon this is a test version of helicopter money, do you remember bonus frenzy announced on the same day tax cut was published - coincidence?