One of Winston-Salem's marquee companies is giving bonuses to its employees. Reynolds American is offering the extra cash in the wake of new federal tax laws.
The lower corporate tax rate passed by Congress in December meant a cash windfall for big companies in North Carolina and elsewhere. And many of those companies are passing at least some of the money along to employees.
You can now add Reynolds American to that list.
The Winston-Salem tobacco maker, now a subsidiary of British American Tobacco, says it will be giving one-time $1,000 bonuses to nearly all of its employees, including managers. That amounts to about 4,500 people.
In a statement to WFDD, Reynolds spokesperson David Howard lauded the tax changes.
"RAI and its operating companies applaud Congress and the President for bringing corporate income tax reform to a reality, and are using this opportunity to show appreciation to their hard-working employees," he said.
RAI employs a few thousand people in North Carolina, primarily in Forsyth County.
British American became the world's largest publicly traded tobacco company when it acquired Reynolds in 2017.