Citing Tax Cuts, McDonald’s Serves Up Tuition Benefits for Employees
Rachel del Guidice /
Fast-food icon McDonald’s will supersize its 3-year-old education benefits program for hundreds of thousands of employees.
McDonald’s Corp. will allocate $150 million over five years to its global Archways to Opportunity education program, tripling its reach, the restaurant giant announced Thursday.
“This investment will provide almost 400,000 U.S. restaurant employees with accessibility to the program as the company will also lower eligibility requirements from nine months to 90 days of employment and drop weekly shift minimums from 20 hours to 15 hours.”
McDonald’s is one of 472 companies, and counting, that have announced benefits such as pay raises, bonuses, utility rate cuts, or 401(k) hikes since Congress passed the tax cuts supported by President Donald Trump, according to Americans for Tax Reform.
Among other changes, the Republican tax overhaul, which went into effect Jan. 1, reduced the federal corporate tax rate from 35 percent to 21 percent.
The Archways to Opportunity program gives eligible McDonald’s employees in the U.S. a path to obtain a high school diploma, acquire assistance for college tuition, learn English as a second language, and access education counseling without cost.
Some education benefits will be available to family members of employees, McDonald’s said.
“These enhancements underscore McDonald’s and its independent franchisees’ commitment to providing jobs that fit around the lives of restaurant employees so they may pursue their education and career ambitions,” the fast-food giant said.
Steve Easterbrook, McDonald’s president and CEO, said:
Our commitment to education reinforces our ongoing support of the people who play a crucial role in our journey to build a better McDonald’s. By offering restaurant employees more opportunities to further their education and pursue their career aspirations, we are helping them find their full potential, whether that’s at McDonald’s or elsewhere.