Cox Communications giving bonuses, credits tax changes

Cable company Cox Communications is joining corporations nationwide by offering its 3,200 Arizona employees bonuses of $1,000 to $2,000 this year thanks to the recent federal tax overhaul, the company said Thursday.

Cox said the bonuses will be available to almost 60,000 Cox Enterprises employees nationwide, and the size of the bonus is based on tenure.

“This change in the tax rate favorably affects our cash flow and allows us to accelerate investment in infrastructure, technology and product development,” the company announcement said. “Sharing some of those tax reform benefits with our employees is ... a way we can thank our employees.”

Other companies owned by Cox Enterprises include Manheim, Ready Transport, AutoTrader, Kelly Blue Book, and Cox newspapers and broadcast operations.

Employees who have been with the company more than a year and are not part of the executive compensation plan will qualify for the bonus.

President Donald Trump signed the tax plan into law in December, prompting hundreds of corporations to offer raises, bonuses or a combination of those to workers.

The conservative group Americans for Tax Reform lists 425 companies as of this week that have announced pay raises, bonuses, increased retirement contributions or rate cuts for customers as a result of the tax plan.