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Chipotle announces new employee bonuses, citing tax cuts

Chipotle announces new employee bonuses, citing tax cuts
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Chipotle employees will see one-time bonuses of between $250 and $1,000, as well as expanded training programs and parental leave, the company announced Wednesday.

The announcement comes less than two months after President TrumpDonald John TrumpTillerson: Russia already looking to interfere in 2018 midterms Dems pick up deep-red legislative seat in Missouri Speier on Trump's desire for military parade: 'We have a Napoleon in the making' MORE signed a sweeping series of tax cuts into law that slashed the corporate tax rate from 35 percent to 21 percent.

Chipotle said Wednesday that tax savings from the new law prompted it to offer its roughly 71,000 hourly and salaried employees the bonuses and new benefits. Hourly crew employees can earn $250 bonuses, while general managers will be eligible for $1,000 bonuses.

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"We have always been proud of our ability to attract and retain top talent who share our passion for cooking delicious food by hand and creating an extraordinary guest experience," Steve Ells, the company's chairman and CEO, said in a statement.

"We're giving back to these committed, motivated, and hardworking team members who have made Chipotle what it is today."

Hourly managers and salaried employees will also be eligible for additional paid parental leave, the restaurant chain said, while hourly restaurant managers will also be eligible for life insurance and short-term disability insurance coverage.

The company is also expanding training programs, including the addition of a "formalized classroom program with a dedicated faculty."

A number of companies have offered one-time bonuses or wage increases since the tax code overhaul was passed in December. AT&T, for example, has offered more than 200,000 employees $1,000 bonuses, as has telecommunications giant Comcast.

Walmart has also announced that it will raise its hourly employees' wages to $11 an hour.