SPRINGDALE — Arkansas-based Tyson Foods Inc. says more than 100,000 employees will receive bonuses as a result of company savings due to the overhaul of federal tax laws.
Tyson said Thursday that full-time employees who do not receive an annual bonus will get $1,000 and part-time workers who receive no annual bonus will get $500. Tyson on Thursday also announced it had a record profit of $1.6 billion, or $4.40 a share, in the first quarter.
Tyson President and CEO Tom Hayes said in an email to employees the company expects to save more than $300 million in taxes. He said the remaining funds will be used in areas such as improving training and education, including teaching English as a second language and General Educational Development classes.
The announcement follows similar actions at big companies — including Walmart, Starbucks and Disney —after the tax overhaul was approved and signed by President Donald Trump in December.
Read Friday's Arkansas Democrat-Gazette for full details on Tyson's first-quarter earnings.