Employees at Hunt Valley-based McCormick & Company are the latest to benefit from the massive tax cuts legislation signed by President Trump at the end of last year.
The spice giant announced that the majority of its employees will receive one-time $1,000 bonus payments in May. A portion of the company’s savings will also go towards increasing hourly employee wages.
"At McCormick, we take a long-term view of the people in our organization,” said Lawrence E. Kurzius, Chairman, President and CEO of McCormick. “We want McCormick to be a great place for people to come work and have engaging and fulfilling careers. The passage of the U.S. Tax Reform Act provides us an opportunity to demonstrate the Power of People, and for the company to show its commitment to the 2-for-1 spirit.”
McCormick also plans to use its savings towards new investments, returning cash to shareholders, and paying down debt.
Today we announced one-time $1,000 bonuses and hourly wage increases for our U.S. Hourly Employees as a result of the U.S. Tax Act. It is important to us that we recognize, attract, develop and retain the best talent in the industry.
— McCormick Corp (@McCormickCorp) March 27, 2018