As the ink dries on the historic tax cut bill signed by President Trump this week, companies across the country are excited about the savings that will be coming forth on corporate taxes. Some are even giving back expected savings to their employees as year-end Christmas bonuses.
One of those companies is YAM Worldwide. Headquartered in Scottsdale and led by iconoclastic billionaire entrepreneur and philanthropist Bob Parsons, YAM celebrated the passage of the GOP Tax plan by announcing that it is awarding bonuses to its more than 700 employees within the YAM companies.
YAM announced on Friday Dec 22 that it will give nearly 600 employees with 6 months or more service an annual bonus of $2,000, and some 130 employees with under 6 months of employment would receive $1,000 in a year-end bonus. The total of $1.3 million in year-end bonuses will be distributed today to the employees.
Since the historic and largest tax cut tax plan was approved earlier this week, and signed into law by the president on Friday, major companies around the US like Wells Fargo, Comcast and AT&T have also given money back to their employees. AT&T will give $1,000 special bonus to more than 200,000 U.S. employees. That’s the same bonus amount that Comcast
“The passage of the tax credit is a catalyst for explosive economic growth. On a massive scale, the lowered federal tax burden on businesses will increase investment, entrepreneurship and corporate philanthropy,” said Parsons. “I’ve always believed in sharing good news and have decided to celebrate the tax plan by giving back to my staff.”
Often best known as the founder of GoDaddy, Parsons is the CEO and founder of YAM Worldwide which is home to more than a dozen companies including PXG, Harley-Davidson of Scottsdale, SNEAKY BIG Studios and BIG YAM, The Parsons Agency.