Walmart raising starting wage, offering bonuses after GOP tax bill

NATION-WORLD     Walmart raises hourly wage to $11 expands benefits     
       Walmart credited President Trump's tax cut for enabling the new policy

NATION-WORLD Walmart raises hourly wage to $11 expands benefits Walmart credited President Trump's tax cut for enabling the new policy

"Given these changes, we have an opportunity to accelerate a few pieces of our investment plan", said Walmart CEO Doug McMillon in the statement.

Additionally, the company announced it will grant 10 weeks maternity leave and six weeks paid parental leave to full-time hourly associates, including leave for parents who adopt.

The nation's unemployment rate has sat at 4.1 percent for three months now, the lowest level since 2000.

The world's largest retailer and private employer, officially called Wal-Mart Stores Inc (WMT.N), will shutter 63 of its Sam's Club discount warehouses, or about one tenth of the chain overall, according to a senior company official who declined to be named. The minimum wage increase goes into effect February 17. The corporate rate falls from 35 percent to 21 percent this year.

New Switch ports and video games announced in Nintendo Direct
Instead, the Direct appeared on January 11 with very little notice and brought with it a host of Nintendo Switch announcements. Another platform for the Nintendo Switch sees you controlling Madeline as she takes on the risky Celeste Mountain.

Walmart in 2015 spent $1 billion to lift their pay to $9 an hour, and then boosted it by another dollar the following year - but only for those employees who complete a 90-day training course.

The wage increase will affect over one million U.S. hourly workers.

Overall, most industry experts are applauding Walmart for its actions - what could set a precedent and push other retailers to do more of the same.

A series of studies have provided fodder for both sides of the debate on raising the federal minimum wage.

Bandai Namco announces Dark Souls: Remastered for all major platforms
In any case, Dark Souls: Remastered will land on Xbox One , PS4, and PC the same day it launches on the Switch: May 25, 2018. Nintendo's packing everything it can into the Switch re-release of the Zelda-themed brawler Hyrule Warriors .

Walmart is capitalizing on its newfound savings under the recently signed tax reform bill by increasing workers' starting hourly wage to $11 and providing substantial bonuses to employees, in an effort to remain competitive in an increasingly tight labor market.

On Thursday, Walmart raised its minimum wage to $11 an hour from $9, citing the trillion-dollar tax cut signed late previous year by President Donald Trump. The store pays $12 an hour and offers a 401 (k) account after a staffer has worked for a year, but Rose realizes that may not be enough for many potential workers. One of the debates around the legislation, prior to passage, was what percentage of newly found funds would be passed on to low-wage workers and how much would end up being dropped to the bottom line, used to buy back shares, etc.

Walmart employs about 2.2 million people globally, with more than 1.5 million in the United States, and had total global revenue of almost $500 billion past year.

Taking effect next month, the wage hike will be about $300 million incremental to what was already included in next fiscal year's plan. As of December, the average pay for full-time workers was $13 an hour. Salaried associates will also get six weeks of paid parental leave. The one-time bonus is an additional payment to associates of about $400 million in the current fiscal year, which ends January 31. Job postings at an Amazon warehouse in OH, for example, offer a starting pay of $14.50 an hour.

Shilpa Shinde's Emotional Breakdown At The Press Conference
The five contestants also met the press in an unexpected encounter arranged by Bigg Boss without giving them any advance notice. She shed tears inside the house, shed them again in front of the press, and then back when they were in the house.

Walmart also said it would create a new benefit to help with adoption expenses and is expanding its paid parental leave policy.

Latest News