Tags: altria | philip morris | bonus | tax cut

Philip Morris Parent Company Pays Employees $3,000 Tax-Cut Bonus

Philip Morris Parent Company Pays Employees $3,000 Tax-Cut Bonus
(AP)

By    |   Saturday, 03 February 2018 04:40 PM EST

Altria Group. Inc., the parent company of cigarette maker Philip Morris USA, is giving all non-executive employees a one-time, $3,000 bonus because of the new corporate tax cut passed in December.

"Our employees drive our success," said Marty J. Barrington, the company’s chairman and CEO, in a statement, reports The Richmond Times-Dispatch. "This bonus is one way we say thank you for everything they do to make Altria a business leader and a leader in our communities."

Altria also plans to set aside another $35 million over three years for its community philanthropic programs, in addition to the $55 million a year the company donates, a company spokeswoman said.

The company's 7,900 non-executive employees are expected to get their bonuses this month, at a cost of $24 million. According to the newspaper, about 3,600 of the employees live in the Richmond area, where the company has its headquarters in Henrico, a cigarette factory in South Richmond, and a research center in downtown Richmond.

The bonuses were announced Thursday, after Atria reported its fourth-quarter and full-year earnings for 2017, posting a profit of $10.2 billion. It also makes smokeless tobacco products and cigars, and owns a wine business.

Sandy Fitzgerald

Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics. 

© 2024 Newsmax. All rights reserved.


StreetTalk
"Our employees drive our success," said Marty J. Barrington, the company’s chairman and CEO, in a statement.
altria, philip morris, bonus, tax cut
198
2018-40-03
Saturday, 03 February 2018 04:40 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved