Companies left and right are offering cash bonuses for their employees following the passage of the GOP tax bill in December.
Now Twinkie-maker Hostess (TWNK) is joining their ranks—but they’ve sweetened the deal.
Hostess employees will not only receive a $1,250 bonus, but also a year’s supply of Hostess products. The bonus, to be paid to its 1,036 hourly employees, will be paid out in $750 cash and $500 toward 401(k) contributions. The free treats, meanwhile, will vary, with Hostess selecting a “product of the week” that it will give to each employee in a multi-pack.
Hostess Executive Chairman Dean Metropoulos explained that “the recent tax-reform changes have given us the opportunity to review our benefit and compensation structure. The company’s management and board take great pleasure in sharing the company’s success with our employees.”
UPS (UPS) and Lowe’s (LOW) similarly announced changes to compensation schemes for their employees on Thursday. UPS plans to increase pension funding through $12 billion in investments, while Lowe’s will pay out one-time $1,000 cash bonuses to employees and expand benefit packages.
They join a line of other companies who’ve already pledged to give employees cash bonuses or other benefits, including AT&T, Apple, American and Southwest Airlines, and Fiat Chrysler.
