Group 1 Automotive announced Friday that it will give its U.S. non-management dealership employees and operational support staff a $500 cash bonus this year, following the recent tax bill that recently became law in December.
“As we were in the process of reviewing the opportunities the new tax reform law creates for us to better our business, we decided the best investment we could make was in the people serving as the face of our company every day,” Group 1 president and chief executive officer Earl Hesterberg said in a news release.
The company said the $500 cash bonus will be paid on March 1 and that it is currently evaluating the full impact of the tax reform law on its operations.
More details will be shared on Feb. 8, when the company releases its 2017 fourth quarter and full year earnings, according to the company.
“For almost 13 years, I have watched our loyal dealership operating and support teams move cars in the 100-degree heat of the Texas summer, clean snow off of new car inventory in 10-degree Boston winter, and spend long days in front of a computer screen processing documents and communicating with our customers,” added Hesterberg.
"These people are the heart of the company. They generate our profits and my management team, and I feel that the financial benefit of the new tax law creates an opportunity for us to say thank you to these key teammates,” he continued.
Group 1 owns and operates 115 U.S dealerships.