FedEx announced wage increases, employee bonuses and pension funding on Friday, citing the new Republican-backed tax-reform plan.
The company announced that two-thirds of $200 million in increased compensation will go to hourly employees, while the remainder will be put toward performance-based incentive plans for salaried employees.
FedEx also said $1.5 billion will be put toward the company’s pension plan and another $1.5 billion would go toward expanding the company’s hub in Indianapolis.
“FedEx believes the Tax Cuts and Jobs Act will likely increase [gross domestic product] and investment in the United States,” the company said on its website.
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