Wal-Mart boosts starting pay to $11 an hour, offers bonuses

On Thursday Jan. 11 2018 Walmart announced it is boosting its starting salary for U.S. workers to $11 an hour giving a one-time $1,000 cash bonus to eligible employees and expanding its maternity and parental leave benefits

On Twitter, Sam's Club responded to people's queries by saying, "After a thorough review of our existing portfolio, we've chose to close a series of clubs and better align our locations with our strategy".

On Twitter, Sam's Club responded to people's queries by saying, "After a thorough review of our existing portfolio, we've made a decision to close a series of clubs and better align our locations with our strategy". 11, 2018, Walmart announced it is boosting its starting salary for US workers to $11 an hour, giving a one-time $1,000 cash bonus to eligible employees and expanding its maternity and parental leave benefits.

"Just ten days into 2018 the Tax Cuts and Jobs Act has changed the nation for the better", ATR President Grover Norquist said.

The layoffs went unaddressed but the wage increase attracted praise from the White House.

Walmart representatives did not respond to a question about the timing of the dual developments.

Even with the wage bump, many workers will struggle if they're the sole breadwinner.

Rising wages reflect a generally tight labor market.

The company also said it's moving production of the Ram heavy-duty truck from Saltillo, Mexico, to Warren, Michigan, in 2020. Competition from rivals and the online behemoth Amazon are going to call for investment in stores and lower prices. With Thursday's closing, that strategy is now extending to Sam's Club. In order to qualify for the maximum bonus, employees must have 20 years of uninterrupted service, or more.

"This is about the evolution of retail", said Michael Mandel, chief economic strategist at the Progressive Policy Institute.

Walmart has announced plans to raise its starting wage for hourly associates to $11. Wells Fargo, one of the country's biggest banks, has, like Walmart and Target, increased its entry-level wage.

A robust labor market is finally pushing upward pressure on American wages after the pain of stagnation that was the mark of the Obama years. The retail industry is seeking to fill 711,000 open jobs, the highest on records dating to 2001, according to government data. "Given these changes, we have an opportunity to accelerate a few pieces of our investment plan... we're raising our starting wage to $11 an hour". The one-time cash bonuses, meanwhile, will cost the company about $400 million, or about 0.08 percent of its annual revenue.

The positive effects of the tax bill with deep cuts in corporate tax rates and individual tax cuts have resulted in companies handing out end-of-year bonuses and increasing jobs and pay.

"We are early in the stages of assessing the opportunities tax reform creates for us to invest in our customers and associates and to further strengthen our business, all of which should benefit our shareholders", McMillon says.

Effective immediately, Walmart will also begin to pay a one-time maximum bonus of $1,000 to eligible employees. Walmart said those being laid off at Sam's Club will still receive a bonus. In all, Walmart employs 2.3 million people around the world, 1.5 million of whom are in the U.S. Walmart is also amping up its paid maternity leave to 10 weeks, and paid parental leave to six weeks. Before, full-time hourly workers received 50 percent of their pay for leave. Both hourly and salaried employees will also get six weeks of paid parental leave. The benefit includes a $5,000 financial reimbursement for expenses paid to adoption agencies, translation expenses and other legal costs associated with the adoption.

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