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Stockreport

Chipotle's tax bonuses: Here's what employees will get [CNBC]

CHIPOTLE MEXICAN GRILL (CMG)  More Company Research Source: CNBC
Last chipotle mexican grill earnings: 4/25 04:10 pm Check Earnings Report
US:NYSE Investor Relations: ir.chipotle.com
PDF Chipotle Mexican Grill employees will be able to earn up to $1,000 extra this year due to new tax legislation. The burrito chain said Tuesday that its hourly crew members will be eligible to earn a $250 bonus and its general managers will be able to earn $1,000. We're pleased that the lower income tax rate from the tax law change will result in savings of approximately $40 [million] to $50 million in 2018, CFO Jack Hartung said Tuesday. Hartung said that about a third of those savings will go directly to its employees in the form of a one-time cash bonus. The company will also award a one-time stock bonus to a group of staff. In addition, Chipotle plans to expand its benefits program, which includes paid maternity and paternity leave, short-term disability and life insurance plans to its hourly restaurant managers. Hartung said the remainder of Chipotle's tax savings would help fund the company's $50 million investment in enhancing its existing restaurant locat [Read more]

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