The Kroger Co. on Monday outlined specifics of its plan to share a portion of the proceeds of the Tax Cuts and Jobs Act with its employees.
The company has said that it would parcel up the windfall from the tax cuts, with about a third of the savings flowing to the bottom line and the rest being spent on technology initiatives and workers.
The spending on workers includes an enhanced educational assistance program, higher wages, a more generous 401(k) benefit, higher discounts for employees on the grocer’s private brand merchandise and enhanced support programs for employees who face crises, the company said in a statement.
Nationwide, Kroger employs nearly 500,000 people who serve 9 million customers a day through digital shopping platforms and 2,800 retail food stores.
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