Thanks to the across-the-board tax cuts passed by Congress, Walmart has decided to raise the starting pay for employees to $11 per hour. In addition, bonuses of up to $1,000 will be given to selected workers. The Left will be happy to hear that Walmart is also expanding maternity and parental leave and also adding an adoption benefit, as noted at Bloomberg.
The changes commence next month through next year and are expected to benefit over a million employees.
“Tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S.,” said Walmart president and CEO Doug McMillon.
Walmart shared in a statement that it made the decision because, “The new law will create some financial benefit for the company.” Some estimates show nearly $2 billions in savings for the retailer.
NBC News adds:
Full-time hourly workers in the United States will be eligible for 10 weeks of paid maternity leave. Full-time hourly and salaried workers will get six weeks of paid parental leave and will be eligible for $5,000 in adoption assistance.
However, along with the good news came the bad. Walmart is also closing “a series” of Sam’s Club stores to “better align our locations with our strategy.” A total of 63 clubs will close down. Walmart was panned for giving some locations little to no advance notice.
This is the third year in a row Walmart -- those evil capitalists -- has instituted a minimum wage increase.