FedEx to Invest and Distribute Portion of Tax Cuts

FedEx announces wage increases bonuses amid tax reform

The $3.2 billion in investments are possible because of the recent tax cuts and a predicted increase in economic growth, FedEx said in a press release.

As of January 26, more than 260 companies have announced "wage and salary increases, bonuses or 401 (k) match increases" going to at least 3 million Americans due to the tax reform bill, according to advocacy group Americans for Tax Reform.

The company said that since the tax reform package was signed into law, they are instituting three new programs because they believe the reform will increase investment and GDP in the United States.

A number of USA companies have already committed to increasing employee pay, including Boeing (NYSE:BA), Home Depot (NYSE:HD), AT&T (NYSE:T) and JPMorgan (NYSE:JPM), among others. The Indianapolis hub is now FedEx's third largest US facility and hosts almost 4,000 employees - approximately 700 of whom are full-time workers.

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The company is investing an additional $1.5 billion to expand its FedEx Express Indianapolis hub over the next seven years.

The company said it would advance a 2018 annual pay increase for hourly workers by six months, moving the raise date to April from October. The remainder will fund increases in performance-based incentive plans for salaried personnel.

The company also funded a one-time, sliding-scale cash bonus program that rewarded staff with 20 years of experience with $1,000, falling to $250 for workers with two years or less with the retailer. The 2-million-square-foot facility opened in 1988 and is the second largest of the company's hubs.

During the mid-morning hours of Friday's session, shares of FedEx were trading slightly lower.

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