Minnesota U-Haul workers to get $1,200 bonuses

The rental company says it's in response to the recently-passed tax bill.

What's happening?

U-Haul, the moving van rental company, has announced it's issuing its full-time employees with a one-off, $1,200 bonus, with $500 issued to part-timers.

Parent company AMERCO will distribute $23.6 million between almost 29,000 employees by the end of February.

Why?

Why else but the recent federal tax bill passed by Congress? The bill slashed corporate tax rates in a big way for large national and international companies like U-Haul.

The bonuses are part of a wider $200 million investment in it's business.

U-Haul doesn't give Congress any credit in its press release though, making it loud and clear that it's taking this decision "to comply with the intent of the President's tax reduction."

U-Haul has dozens of locations dotted around Minnesota, so there will likely be hundreds who take home a bonus in a few weeks' time.

Haven't other companies done this? 

Yes, there have been many companies that have announced either one-off bonuses to celebrate the tax bill, or taken more long-term moves like increasing its minimum wages.

Fox Business has a round-up of all the companies that have announced so far, with Apple, JP Morgan Chase, Lowe's, Home Depot and Minneapolis-based U.S. Bank among those giving more back to employees.

There have been caveats to some of the announcements however. 

There have been companies like AT&T, which grabbed headlines with its holiday bonuses only to then slash thousands of jobs a short time later.

Walmart did the same, announcing bonuses of up to $1,000 for its workers, only to shut down a number of Sam's Clubs – including 2 in Minnesota – days later.

Oh, and only those who had worked there for 20 years qualified for the full $1,000 bonus.


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