Lowe’s to pay U.S. staff $1,000 bonus following tax reform

Lowe’s Cos Inc on Thursday said it would pay a one-time bonus of $1,000 for over 260,000 hourly U.S employees, as the home improvement chain takes advantage of changes in the U.S. tax code.

The company said it would also give new benefits, including additional paid maternity and parental leave and adoption assistance benefit of up to $5,000, to qualified hourly full-time employees.

Lowe’s expects an additional net tax expense of about $75 million in the fourth quarter of 2017.