After reaping tax benefits from the recently passed Tax Cuts and Jobs Act, Kroger has announced a slew of new and enhanced long-term associate benefits.
“The Tax Cuts and Jobs Act is a catalyst that is enabling us to accelerate investments in Restock Kroger, our plan to serve America through food inspiration and uplift,” said Rodney McMullen, Chairman and CEO, in a company press release. “We intend to make significant investments in our associates, to continue redefining the customer experience, and to return value to our shareholders—sharing the benefit with all of our stakeholders in a balanced way.”
According to the company’s press release, Kroger is investing in a number of initiatives for the benefit of its employees, including an industry-leading education assistance program called Feed Your Future, accelerated investments in store associate wages, a more generous 401(k) benefit, and enriched associate discount and support programs.
“I am especially excited to introduce Feed Your Future, Kroger's new, industry-leading continuous learning and education benefit,” continued McMullen. “Many of our associates can attest to the life-changing power of education, and I'm proud to be one of them. Feed Your Future will support both full- and part-time associates, wherever they are on their personal education journey, whether they are pursuing GEDs, MBAs, or professional certifications. In this way, we're offering more than a one-time award—we're offering an investment in our associates' future.”
Some highlights of the company’s investment in employee benefits include the following:
To learn more about Kroger’s plans, read the company’s press release in its entirety here.
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