Walmart Announces Bonuses to One Million Employees in Wake of Trump Tax Cut & Raise Starting Hourly Wage
MAKING AMERICA GREAT AGAIN …
In the wake of the President Donald Trump tax cuts, WALMART has announced that it will give one million employees a bonus and raise their starting hourly wage to $11. Trump has started the ball rolling and the businesses as predicted are following.
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 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.
“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.