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Thread: Wal-Mart Raises Hourly Wage to $11 in Wake of Tax Overhaul

  1. #11
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    Of course Walmart is also closing 63 Sam's Club locations

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    leekohler2 (01-12-2018)

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    Quote Originally Posted by Common View Post
    I posted this earlier today Grok just a heads up
    Ok. I'll notify the Powers That Be...
    De Oppresso Liber



  4. #13
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    Quote Originally Posted by Kacper View Post
    Of course Walmart is also closing 63 Sam's Club locations
    Businesses close all the time. If they are not profitable where they are, close them. So?
    De Oppresso Liber



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    Quote Originally Posted by Kacper View Post
    Of course Walmart is also closing 63 Sam's Club locations
    Well, how do you think they are going to pay for that $1 raise and $1000 bonus to their workers? I know people didn't actually think the tax cut was the reason Walmart gave the raises, even though that's what they said...
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    Kacper (01-11-2018),leekohler2 (01-12-2018)

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    Quote Originally Posted by Grokmaster View Post
    Businesses close all the time. If they are not profitable where they are, close them. So?
    So the great tax cut apparently either isn't the way Walmart is paying for it or isn't enough to save 63 Sam's Clubs although your belief that business locations only close related to profitability of the individual locations is naive at best.

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    Trish (01-11-2018)

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    Today

    Walmart is abruptly closing 63 Sam's Club stores and laying off thousands of workers

    http://www.businessinsider.com/walma...-stores-2018-1

    http://www.washingtonexaminer.com/wa...rticle/2645661


    Walmart closes 63 Sam's Clubs after announcing bonuses attributed to tax cuts

    Walmart is shuttering 63 Sam’s Club stores around the country, an announcement that came shortly after the company said it would be rewarding its employees with up to $1,000 in bonuses because of the new tax cuts that were just signed into law.





    'How and Why ?' ~ Einstein

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    Quote Originally Posted by exotix View Post
    Today

    Walmart is abruptly closing 63 Sam's Club stores and laying off thousands of workers

    http://www.businessinsider.com/walma...-stores-2018-1

    http://www.washingtonexaminer.com/wa...rticle/2645661


    Walmart closes 63 Sam's Clubs after announcing bonuses attributed to tax cuts

    Walmart is shuttering 63 Sam’s Club stores around the country, an announcement that came shortly after the company said it would be rewarding its employees with up to $1,000 in bonuses because of the new tax cuts that were just signed into law.





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    Quote Originally Posted by Common View Post
    The list of companies raising wages is growing larger an larger, along with bonus' and reinvestment like we havent seen in 20 yrs or more.

    Wal-Mart Stores Inc. is boosting its starting hourly wage to $11 and delivering bonuses to employees, capitalizing on the U.S. tax overhaul to stay competitive in a tightening labor market.The increase takes effect next month and will cost $300 million on top of annual wage hikes that were already planned, the world’s largest retailer said Thursday. The one-time bonus of up to $1,000 is based on seniority and will amount to an additional $400 million. The company is also expanding its maternity and parental leave policy and adding an adoption benefit.
    Wal-Mart, the nation’s largest private employer, has fought in recent years to improve its image in the U.S., as it weathered criticism over its treatment of employees. With the wage increase and bonus payment, the company seeks to even its pay gap with resurgent rival Target Corp., while simultaneously sending a high-profile thank you to the U.S. government for slashing the corporate tax rate.
    “Tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S.,” Chief Executive Officer Doug McMillon said in the statement.
    The move comes three years after Wal-Mart last announced it was raising wages, spending $1 billion in 2015 to lift starting hourly pay to $9 and then to $10 the following year -- for workers who complete a 90-day training course. The increase cut into profit and was criticized by some longer-tenured employees as unfair to them. Since then, many states have enacted minimum wage laws, meaning that a “sizable group” of its 4,700 U.S. stores already pay $11 an hour, according to spokesman Kory Lundberg.

    https://www.bloomberg.com/news/artic...f-tax-overhaul





    . . .and closing 60-ish Sam's Club stores nationwide.


    Yep, how is that increased minimum wage working out for ya?

  13. #20
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    Quote Originally Posted by Tahuyaman View Post
    At some point even liberals will need to admit that creating a more business friendly environment is good for all working people.
    No they won't They'll continue to dream up clouds to put into the nation's silver lining...
    De Oppresso Liber



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