Walmart is raising wages and giving bonuses, citing tax cuts
Source: Axios
Walmart is boosting starting wages, providing a one-time bonus for employees and expanding benefits, the company said in a press release on Thursday, citing the tax cuts signed into law by President Trump last year. The plan benefits more than a million employees, the company told Axios.
Details: The bonus is based on length of service, with those who've worked 20 years eligible for $1,000. The company, which is the largest private employer in the U.S. and employs roughly 2.2 million people worldwide, is also raising its starting wage to $11 an hour. The current starting wage for store associates is $9 an hour. The company also said it plans to expand its maternity and paternity leave benefits.
Read more: https://www.axios.com/walmart-boosting-1515675530-f1641dc4-c92c-4002-ab00-b2e8cf35d540.html?source=sidebar
mercuryblues
(14,537 posts)are crushing them
Bengus81
(6,932 posts)Who have been on WalMart's case for more than a decade. If true this is really good news for those workers--IF true.
malthaussen
(17,216 posts)... if they follow the emerging pattern.
-- Mal
hatrack
(59,592 posts)fleur-de-lisa
(14,628 posts)How generous of them!
And next week Wally World will announce layoffs, if history is any indication.
Maxheader
(4,374 posts)"The bonus is based on length of service, with those who've worked 20 years eligible for $1,000."
emptied your coffee change cans, did we?
oh i suppose, better than nothing..
HopeAgain
(4,407 posts)I suspect it is not a big number.
louis-t
(23,297 posts)No more than a handful of people are eligible.
Freethinker65
(10,048 posts)To spend back at Walmart.
Walmart could have, and should have, done this years ago. Tax cuts had little to do with it. Retaining better employees and decreasing turnover rates makes good business sense.
cstanleytech
(26,319 posts)with paying low wages in order to raise your profit margin which is one of the reasons why Wal-Mart has kept wages low not to mention lower payroll cost equal bigger bonus for the managers.
Freethinker65
(10,048 posts)yallerdawg
(16,104 posts)Within 6 months, I looked up one day and realized there was 2 of us left and a blind man out of the Shoe Department (putting freight on the rollers extending into the truck) - managers telling us they were getting floor help as they became available, "Keep working - faster!"
That day, I did have one more "Fuck you" left.
This was also around the time a Walmart executive memo was revealed reminding all store managers that after just a couple years, wage increases made "long-term employees" less profitable than utilizing new, fresh employees.
There is a set budget for labor costs vs. profits, and no matter what else happens, that profit comes first. All the rest is BS.
stonecutter357
(12,697 posts)cstanleytech
(26,319 posts)or close more poor performing super centers.
louis-t
(23,297 posts)I'll wait to see if they actually do what they promise.
bluestarone
(17,030 posts)not qualify for Reduced meds or other medical help someone was getting before the bonus?
workinclasszero
(28,270 posts)Gee thanks soooooooooooo much Walton family!
Walton family
As of December 2014, the Waltons collectively own 50.8 percent of the company,[6] and are worth a combined total of about US $170 billion.
https://en.wikipedia.org/wiki/Walton_family
They keep eliminating jobs with self checkout lanes too, hmm.
hatrack
(59,592 posts).
workinclasszero
(28,270 posts)We just don't deserve the good things the 1% gives to us, ya know?
Thanks for the crumbs from your feast assholes!
Dictator Dump gives Walmart millions and millions in a tax break they didn't need in the first place and the magnificent rulers of Walmart give their wage slaves a whole 2 dollar raise!
Huzzah fucking Walmart! 1% millions, 99% 2 bucks and now the republicans go after medicaid/medicare/social security etc.
sinkingfeeling
(51,473 posts)Downtown Hound
(12,618 posts)harun
(11,348 posts)They get billions in tax cuts and billions from food stamps program and they give 20 year employees 1k?
elmac
(4,642 posts)to pay for the tax breaks I wonder if walfart or tRump will brag about that?
Javaman
(62,534 posts)so are they able to give those "raises and bonuses" because they kicked other employees out of jobs?
sounds like over growth and really shitty management.