CLOVIS, N.M. -- Allsup's Convenience Stores Inc. gave all full-time, nonexecutive employees who have been with the company at least a year a one-time time cash bonus of $1,000 this week.
The bonus was a result of the Tax Cuts and Jobs Act, the December tax overhaul pushed by President Donald Trump, the company said.
“The new tax reform legislation provides tax cuts for individuals and companies and should result in positive economic growth,” said Allsup’s.
Clovis, N.M.-based Allsup’s operates 317 c-stores in New Mexico, West Texas and Oklahoma and employs 3,200 full-time and part-time employees. It did not say how many total employees received the bonus. The chain ranked No. 26 in a year-end update of CSP’s2017 Top 202 list of the largest c-store chains in the United States.
Allsup’s is one of nearly 440 companies nationwide that have announced bonuses, pay raises, utility rate cuts or 401(k) retirement plan increases since Trump signed the bill into law on Dec. 22, reported The Santa Fe New Mexican, citing Americans for Tax Reform.
Barbara Allsup, owner and co-founder of Allsup’s with her late husband, Lonnie Allsup, said she is “pleased to announce this special, one-time bonus to our hard-working employees.”
Her husband had endorsed the plan shortly before his death in late January at age 84, the company said.
Valparaiso, Ind.-based Family Express Corp. used its tax savings to boost the starting wage of employees. The retailer’s entry-level associates will now earn $11 an hour.