Add Sinclair to the growing list of communications companies--Comcast, AT&T--offering $1,000 holiday bonuses to their workers as a way to reward employees and demonstrate that the new tax reform will redound to the benefit of more than execs and shareholders.
Sinclair called it a special bonus tied to the tax cut legislation and says it will go to almost 9,000 "full-time and part-time regular employees at all of its stations and subsidiaries."
As with the bonuses of AT&T and Comcast, both also $1,000 apiece, the Sinclair bonus excludes senior level executives.
“We are grateful to our President and legislature for passing the landmark Tax Cuts and Jobs Act and are excited about the benefits it will provide for our country’s economy, our Company, and our employees,” said Sinclair President Chris Ripley. “We recognize that our employees are our most valuable resource, truly appreciate their combined achievements for our Company and look forward to a very bright future.”
RELATED: FCC Propses $13M Sinclair Fine Over Paid Programming
The tax bill cuts the corporate rate from 35% to 21%.
Sinclair's move should not hurt it with the Trump Administration, which has been arguing that tax reform would mean more jobs and investment in workers and capital expenditures.
AT&T and Comcast both said it would translate into billions in new investment.
Contributing editor John Eggerton has been an editor and/or writer on media regulation, legislation and policy for over four decades, including covering the FCC, FTC, Congress, the major media trade associations, and the federal courts. In addition to Multichannel News and Broadcasting + Cable, his work has appeared in Radio World, TV Technology, TV Fax, This Week in Consumer Electronics, Variety and the Encyclopedia Britannica.
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