Haim Saban's Company Pledges $1,000 Bonuses to Staff Due to Tax Cuts
"We have been inspired by what Bob Iger has done for Disney employees," Cheryl and Haim Saban wrote in a letter to employees.
Media mogul Haim Saban on Friday became the latest to dole out $1,000 bonuses to employees in celebration of tax reform.
According to a letter to staffers at Saban Capital Group, which invests in entertainment and communications companies, Haim and his wife, Cheryl, were inspired by Disney's decision to award bonuses to its employees.
Before Disney, several companies including Comcast and Starbucks said they'd be handing out bonus checks (and Apple gave out stock bonuses) because of tax reform championed by President Donald Trump that reduces the rate paid by corporations to a maximum of 21 percent, down from 35 percent previously.
AT&T, which is trying to purchase Time Warner, was one of the first companies to announce $1,000 bonuses for 200,000 U.S. employees.
Unlike some other companies, though, the Sabans stipulate that the bonuses will amount to $1,000 after taxes.
The entire note from the Sabans to their employees is below: