Starbucks is investing $250 million into increased pay and benefits for its workers, CNBC reported Wednesday. A Starbucks press release noted that this decision was motivated “by recent changes in the U.S. tax law” and will affect more than 150,000 workers.
In April, Starbucks employees will receive wage increases “based on regional cost of living” that total $120 million. The company is also doling out stock grants; baristas and other store staff will receive at least $500 grants while store managers will get $2,000 grants.
The coffee-chain behemoth is also offering more generous benefits. Employees working full time will be able to accumulate up to five paid sick days per year, and “non-birth parents” will be eligible to take up to six paid weeks off to spend time with their newborn.