Chipotle Mexican Grill announced Wednesday many of its 71,000 employees will receive a $1,000 cash bonus and one-time stock bonus as a result of the Republican tax reform law's passage in December.

The company did not specify the dollar amount value of the investments, but did say it was the result of "savings due to the Tax Cuts and Jobs Act."

"We have always been proud of our ability to attract and retain top talent who share our passion for cooking delicious food by hand and creating an extraordinary guest experience," Chipotle Founder and CEO Steve Ells said in a statement. "We're giving back to these committed, motivated, and hardworking team members who have made Chipotle what it is today."

Chipotle said qualified hourly and salaried restaurant employees will receive the cash bonus while select staff employees will get a stock bonus, which it is has already begun rolling out to workers.

The burrito chain said one-third of its expected savings from the new law will go toward employees and the remainder will fund improvements to restaurant facilities and operations.

Salaried employees and hourly managers will also receive additional paid parental leave coverage. Hourly restaurant managers will also be eligible for life insurance and short-term disability insurance.