KUALA LUMPUR, Jan 29 (Bernama) -- FedEx Corp, United States-based transportation, e-commerce and business services company has announced three major programmes following the recently enacted US Tax Cuts and Jobs Act.
In a statement today, it said, over US$200 million in increased compensation, of which two-thirds would go to hourly team members by advancing 2018 annual pay increases by six months, while the remainder would fund performance-based incentive plans for salaried personnel.
Under the act, a voluntary contribution of US$1.5 billion is allocated for FedEx's pension plan to ensure it remains as one of the best funded retirement programmes in the country.
FedEx is also investing US$1.5 billion to expand its Express Indianapolis hub in the next seven years, while the Memphis SuperHub will be modernised and enlarged in a major programme.
FedEx believes the Tax Cuts and Jobs Act will likely increase gross domestic product and investment in the US.
-- BERNAMA
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