The U.S. tax reform pushed by the Trump Administration has prompted many corporations to announce bonuses and wage hikes for their employees. Starbucks is one of the latest to boost its compensation and benefits package in light of the recent changes in U.S. tax law. Ron Crawford, VP of Benefits at Starbucks, was with us to discuss the company's investment in benefits.
Starbucks said the U.S. tax reform accelerated its latest investment in paid leave and wages. Had there not been tax reform, Crawford said Starbucks still would have made investments in compensation, but the timing and the extent of it may have been different. The offerings will total more than $250 million for more than 150,000 workers.
Digital apps and emerging technologies are driving more coffee runs to Starbucks, says Crawford. He believes digitization has brought more customers to its stores and boosted interactions between customers and employees. Starbucks is pumping in $7 billion of capital to build and renovate stores, manufacturing plants and technology platforms in the U.S. over the next five years.
Lisa Greene-Lewis, CPA and TurboTax expert, joined Cheddar News to explain the major changes that taxpayers need to know as filing season gets underway.
Multiple activist investors have taken stakes in Salesforce, according to reports from several outlets, spurring speculation that the tech firm could soon face additional pressure to increase margins and trim payrolls.
Andrew Collins, the CEO of private aviation firm Sentient Jet, joined Cheddar News anchor Hena Doba on a Walk & Talk discussing the future of business and leisure travel.
