Walmart to Raise U.S. Wages, Provide One-Time Bonus

[gaymer77]

So at 8:14am Walmart fired off news that because of tax reform that has recently been passed by Republicans and signed by Trump, they will be increasing their min pay to $11 an hour and a few other benefits for their employees including an one-time bonus of $200-1000 for "eligible employees". Sounds great right?

SOURCE

ore than 1 million associates benefit from combined wage and benefit changes

BENTONVILLE, Ark. – Jan. 11, 2018 – Today, Walmart announced plans to increase the starting wage rate for all hourly associates in the U.S. to $11, expand maternity and parental leave benefits and provide a one-time cash bonus for eligible associates of up to $1,000. The company is also creating a new benefit to assist associates with adoption expenses. The combined wage and benefit changes will benefit the company’s more than one million U.S. hourly associates.

“Today, we are building on investments we’ve been making in associates, in their wages and skills development,” said Doug McMillon, Walmart president and CEO. “It’s our people who make the difference and we appreciate how they work hard to make every day easier for busy families.”

He added, “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. However, some guiding themes are clear and consistent with how we’ve been investing -- lower prices for customers, better wages and training for associates and investments in the future of our company, including in technology. Tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S.”

This increase in wages to associates will take effect in February and will be approximately $300 million incremental to what was already included in next fiscal year’s plan. The one-time bonus represents an additional payment to associates of approximately $400 million in the current fiscal year, which ends Jan. 31, 2018.

While the new law will create some financial benefit for the company, Walmart is early in the process of assessing potential additional investments. That assessment will be done not only through the lens of associates, customers and shareholders, but also within Walmart’s financial framework of strong, efficient growth, consistent operating discipline and strategic capital allocation. Further details will be shared, as appropriate, when the company releases quarterly results Feb. 20, 2018.

Associates will hear more from their managers in the coming days about details.

But, broadly, associates in the U.S. will share in tax savings through:

A one-time bonus benefiting all eligible full and part-time hourly associates in the U.S. The amount of the bonus will be based on length of service, with associates with at least 20 years qualifying for $1,000. A discrete one-time charge will be taken in the fourth quarter of the current year to account for the bonus; qualification will be determined before the end of the month and payments will be paid as quickly as practical thereafter.

An increase in Walmart’s starting wage rate to $11 an hour, effective in the Feb. 17, 2018, pay cycle. The change is in addition to wage increases already planned for many U.S. markets in the coming fiscal year. The increase applies to all hourly associates in the U.S., including stores, Sam’s Clubs, eCommerce, logistics and Home Office.

An expanded parental and maternity leave policy, providing full-time hourly associates in the U.S. with 10 weeks of paid maternity leave and six weeks of paid parental leave. Salaried associates will also receive six weeks of paid parental leave.

Walmart will provide financial assistance to associates adopting a child. The adoption benefit, available to both full-time hourly and salaried associates, will total $5,000 per child and may be used for expenses such as adoption agency fees, translation fees and legal or court costs.

Then by the end of the work day stories started hitting the news about Walmart laying off many stores and way too many people would be without a job. Workers showed up for work today and were greeted by locked doors and signs on them saying they are closed indefinitely.

SOUCE

NEW YORK (AP) — The Latest on Walmart's decision to boost starting salaries for U.S. workers while also closing dozens of Sam's Club stores around the country (all times local):

3 p.m.

A Walmart official says the company is closing 63 Sam's Club stores across the country. About 10 of those stores will be repurposed into e-commerce distribution sites.

The official said at least eight stores closed Thursday and the rest would shutter in the coming weeks. The official spoke on condition of anonymity because he was not authorized to discuss details of the decision publicly.

The closures came on the same day that Walmart announced it would boost its starting salary for U.S. workers to $11 an hour and hand out one-time cash bonuses.

The Walmart official said it would too soon to know how many jobs would be eliminated with the Sam's Club closures. He said some employees would be re-hired at other Walmart locations or at the newly created e-commerce distribution sites.

What are YOUR thoughts on this issue? I see this as having nothing to do with getting any "extra" money from the tax breaks to give these raises & bonuses but they will simply have less costs associated with the company since they are closing down over 60 stores nation wide.

[Pendulous]

I would be fine with my current wage as long as they trained managers properly, treated employees with just a tiny amount of respect, staffed stores with the proper amount of employees, didn't run anti-union propaganda, and didn't give their store managers massive bonuses for working with broken equipment and skeleton crews. let's work from there.

Also, the $11 an hour thing isn't really a response to the tax cut as it is a response to Target making the same change months ago.

[Deleted]

God I fucking love Mr. President Trump. From declaring third world shitholes "shitholes", to tax breaks to overall better international relationships. Truly a godsend.

[Deleted]

And the emperor said, let there be wage raises and one time bonuses.

[Kapadons]

So the way I understood the Sams club closures was they would be turned in distribution centers for their online ordering. Walmart has been making lots of effort to want to challenge amazon for e-commerce buying. Needing a huge local warehouse is a big part of that. We had 4 sams clubs in my city and they closed the one yesterday in the worst part of town but was also the most centrally located.

If walmart truly closed some of these to up their online game , I don’t have any issue. If they closed them because they were under performing stores and did it to offset the costs of the wage increase , I don’t have any issue.

[Iggy Iguana]

I feel bad for the Walmart employees, I hope they all make out alright under the circumstances.

[gaymer77]

So the way I understood the Sams club closures was they would be turned in distribution centers for their online ordering. Walmart has been making lots of effort to want to challenge amazon for e-commerce buying. Needing a huge local warehouse is a big part of that. We had 4 sams clubs in my city and they closed the one yesterday in the worst part of town but was also the most centrally located.

If walmart truly closed some of these to up their online game , I don’t have any issue. If they closed them because they were under performing stores and did it to offset the costs of the wage increase , I don’t have any issue.

Of the 60 announced closures, only 10 will become distribution centers.

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IAlso, the $11 an hour thing isn't really a response to the tax cut as it is a response to Target making the same change months ago.

If you read the first quote which was taken directly from the Walmart website, they specifically stated the reason for the changes if because of the tax reform.

[StayTuned]

God I fucking love Mr. President Trump. From declaring third world shitholes "shitholes", to tax breaks to overall better international relationships. Truly a godsend.

What? Everyone is shitting on the US more than ever since he is POTUS

[Evil Midnight Bomber]

Seems almost exactly like when AT&T announced they were giving out bonuses...while at the same time laying off thousands of employees.

[Khuros]

Closing 63 stores and giving bonuses to maintain image. It's like Trump donating to US Department of Education then cutting their budget by 10B.

[ati87]

And the emperor said, let there be wage raises and one time bonuses.

And the Emperor told the rich

Eat your bread and give the peasants the breadcrumbs that fall out of your mouth

[Macaquerie]

And the emperor said, let there be wage raises and one time bonuses.

You do realize that 40k is satire, right?

[Deleted]

And the Emperor told the rich

Eat your bread and give the peasants the breadcrumbs that fall out of your mouth

Just enough to keep them happy is the trick.

[kamuimac]

So at 8:14am Walmart fired off news that because of tax reform that has recently been passed by Republicans and signed by Trump, they will be increasing their min pay to $11 an hour and a few other benefits for their employees including an one-time bonus of $200-1000 for "eligible employees". Sounds great right?

socialism totaly works guys - next time it will work for suuuuure

irony aside what else did you expect ? sunshine and rainbows ? if you pass retarded law this is what happens.

[xenogear3]

How many people work in a Sam's club? 10?

It seems empty to me.
It is a club. Cannot have a lot people.

[Keosen]

And the Emperor told the rich

Eat your bread and give the peasants the breadcrumbs that fall out of your mouth

This is why poor will remain poor, because they fucking-missing-their-fucking-class-consciousness.
Contrary to rich supporting the rich when fucking the poor, many poor people are supporting the rich when rich are fucking the poor.

[PosPosPos]

socialism totaly works guys - next time it will work for suuuuure

irony aside what else did you expect ? sunshine and rainbows ? if you pass retarded law this is what happens.

Did you just accuse Trump of being socialist?

Wow. Didn't realize alt-righters are this out of touch of reality.

[ati87]

This is why poor will remain poor, because they fucking-missing-their-fucking-class-consciousness.
Contrary to rich supporting the rich when fucking the poor, many poor people are supporting the rich when rich are fucking the poor.

The idea is that when white males vote against their self intrest they do that with the idea that even though they are getting the breadcrumbs the others aren't getting even that so they still feel better about themselves.

The people that benefited most of slavery and jim crow laws where the rich obviously but it was the idiot while male that kept the system up because they liked the idea of having somebody below them.

[melodramocracy]

My thoughts are that the estimated $1 trillion the corporate tax cut is going to cost would have been better served distributed to working US households.

[prwraith]

And the emperor said, let there be wage raises and one time bonuses.
http://i0.kym-cdn.com/photos/images/...20/360/462.jpg

How dare you deface the holy emperor of mankind with trump....how dare you

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You do realize that 40k is satire, right?

Heresy......