Waste Management CEO James Fish responded to Rep. Nancy Pelosi’s (D-Calif.) criticism of bonuses given to employees following the passing of the Republican-backed tax reform bill.
In an exclusive interview with FOX Business’ Liz Claman, Fish said the bonuses will be go to drivers, landfill workers and customer service agents.
“We are giving it to those folks not just because not only are they hard working, but they don’t participate in our annual bonus which typically are for salary employees,” Fish said during an interview on “Countdown to the Closing Bell” Friday.
The House Minority Leader on Thursday called the recent wave of corporate bonus given to workers as a result of the Republican tax bill as “crumbs.”
"In terms of the bonus that corporate America received versus the crumbs that they are giving workers to kind of put the schmooze on is so pathetic," Pelosi told reporters. "It’s so pathetic."
The Houston-based company announced this week it will grant $2,000 in special bonuses for its nearly 34,000 employees in North America, totaling an estimated $68 million.
“Whatever benefits the economy benefits us,” Fish said. “So, if we inject $68 million into the economy, it helps the economy and it helps our business.”
The CEO is hoping the bonuses will encourage workers to stay with the company and resolve its turnover rate.
“This is good for us in terms of retention. What we find is that a big percentage of our retention or maybe I should say our turnover takes with employees in the first two years with the company,” Fish said.