Monday, 10 December, 2018

Lower taxes and tight labour market prompt Walmart to hike United States wages

Walmart giving employees $1000 bonuses, raising minimum wage Wal-Mart increases minimum wage to $11 an hour in wake of lower US tax bill
Laurie Berry | 11 January, 2018, 21:27

The company said the change is in addition to wage increases already planned for many USA markets in the coming fiscal year.

The retailer's hourly workers now make a starting wage of $9, which is increased to $10 after they complete a training program.

Walmart is raising its minimum wage and handing out tax cut bonuses because of thanks to the new tax law.

In offering the bonuses, Walmart joins companies including American Airlines, AT&T and Bank of America that have announced $1,000 worker payouts following the passage of the Republican tax plan that slashed the corporate tax rate from 35 percent to 21 percent. Workers with more than 20 years of experience will receive the full $1,000; workers with less than two years of experience will receive $200 with various amounts based on service, CNBC reported.

The retailer is also expanding maternity and parental leave benefits, as well as creating a new benefit to assist with adoption expenses.

McMillon said Walmart is in the "early" stages of assessing opportunities from the GOP tax plan, adding "tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S".

Mobile's aggressive new smartphone promo includes high-profile iPhone X
Customers who want just one phone can buy the same Samsung and LG devices and get up to Dollars 150 back via rebates. Simply trade-in your old phone, get that value added to your new phone, set up an EIP, then receive a $150 rebate.

In all, more than 1 million Walmart employees will benefit from the bonuses and wage changes.

Labour groups have said that past rises in wages at the retailer have led to a cut in work hours for employees as the company sought to offset the impact on profits. The company said its new wage hike will be effective for the February 17 pay cycle.

Walmart employs 2.3 million people worldwide, according to the company. It was previously $9, which rose to $10 after a six-month training program.

The retailer has spent about $2.7 billion to increase wages over the past few years.

The companies say the bonuses they've announced are a way to share some of their bounty with their workers, though in some cases it's a very small percentage of their gains. Full-time hourly workers in the United States will get 10 weeks of paid maternity leave and six weeks of paid parental leave.

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