Wal-Mart raises wages, gives bonuses, credits tax reform

[The Tradition]

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 Bentonville, Arkansas-based 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.

Wal-Mart, the nation’s largest private employer, has fought in recent years to improve its image in the U.S., as it weathered criticism over its treatment of employees. With the wage increase and bonus payment, the world’s biggest retailer seeks to even its pay gapwith resurgent rival Target Corp., while simultaneously sending a high-profile thank you to the U.S. government for slashing the corporate tax rate.

https://www.bloomberg.com/news/arti...u-s-hourly-wage-to-11-in-wake-of-tax-overhaul

 

[tarheelbybirth]

LOL...the richest family in the world - raking in billions a year - couldn't afford a raise until now.

 

[mstp1992]

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 Bentonville, Arkansas-based 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.

Wal-Mart, the nation’s largest private employer, has fought in recent years to improve its image in the U.S., as it weathered criticism over its treatment of employees. With the wage increase and bonus payment, the world’s biggest retailer seeks to even its pay gapwith resurgent rival Target Corp., while simultaneously sending a high-profile thank you to the U.S. government for slashing the corporate tax rate.

https://www.bloomberg.com/news/arti...u-s-hourly-wage-to-11-in-wake-of-tax-overhaul

LOL...the richest family in the world - raking in billions a year - couldn't afford a raise until now.

Companies doing this are, by and large, backers of the GOP so gimmicks like this are essentially a well-placed bribe given to their employees hoping they support their local GOP candidates.

In 2016, 95% of the Walmart PAC contributions went to House members who opposed the minimum wage increase.

 

[SoProudNole]

$11.00 an hour and $1000?

Woooo!!! Baby, we going out tonight!

 

[MitchL]

The largest corporations are the biggest winners in this so called tax reform. I would certainly expect them to throw crumbs to the peons.

The argument from the folks opposing Trump's plan is the boomerang effect in 8? years when the cuts disappear and taxes go back up for the middle class.

These actions by some of the largest companies are good public relations. I guess any benefit, regardless how small, is good.

 

[The Tradition]

It's a 10+ percent raise! I can't believe how freaking cynical you people are. A few years ago, Wally World was paying barely above minimum wage. The wage growth they have put into place isn't "small" at all. It's huge. Huuuuge, I say.

 

[LuteHawk]

Wal-Mart is to be commended for their actions. It
will be a benefit to their employees. Hopefully,
the $1000 bonus and the $11 minimum hourly wage
will help. Cynics will call this a public-relations stunt.
Wal-Mart employees will call this a small miracle.

 

[tarheelbybirth]

Is it enough to get them off food stamps?

 

[Funky Bunch]

Employees who have worked for at least 20 years will get the full $1,000. Those people deserve it.

 

[hawkland14]

It’s never enough for liberals. Where is all the death and destruction that Nancy Pelosi was talking about with the tax bill? All I see are companies giving raises and bonuses.

But the tweets!!!!! Russia!!! What’s the outrage today lefties?

 

[SoProudNole]

It's a 10+ percent raise! I can't believe how freaking cynical you people are. A few years ago, Wally World was paying barely above minimum wage. The wage growth they have put into place isn't "small" at all. It's huge. Huuuuge, I say.

Clown, you're one of the most cynical people here.

 

[SoProudNole]

It’s never enough for liberals. Where is all the death and destruction that Nancy Pelosi was talking about with the tax bill? All I see are companies giving raises and bonuses.

But the tweets!!!!! Russia!!! What’s the outrage today lefties?

That they were perfectly capable of giving years ago.

 

[tarheelbybirth]

It’s never enough for liberals. Where is all the death and destruction that Nancy Pelosi was talking about with the tax bill? All I see are companies giving raises and bonuses.

So...if the GOP is able to follow through and perhaps cut the public benefits these same folks have been depending on for years to supplement their low pay from the multi-multi-multi-billionaire Walton family...what might your take be then?

 

[mstp1992]

It’s never enough for liberals. Where is all the death and destruction that Nancy Pelosi was talking about with the tax bill? All I see are companies giving raises and bonuses.

But the tweets!!!!! Russia!!! What’s the outrage today lefties?

Nobody prevented Walmart from providing such raises and bonuses in the past.

This is a publicity stunt.

 

[cigaretteman]

Nobody prevented Walmart from providing such raises and bonuses in the past.

This is a publicity stunt.

This, and nearly all other large corporations have been sitting on piles of cash for years. The new tax law made it no more possible for them to increase wages or pay benefits than they were already.

 

[Mattski]

Good for them and good for their employees. Whether they could or couldn't have in the past really doesn't matter. They have additional revenue now as a result of the tax bill and they're passing some of the benefits on to their employees. Win win.

 

[Run&Blade]

So nothing is good if others also benefit ?

Obama’s had 8 years to soak the rich and give back to middle class but I don’t think he did.

It’s real simple Dems. “If elected I will raise taxes on the top 5% ( pick your own %) and I will cut checks to the middle class with the new tax dollars.”

People would get behind that. At best you get some bla bla about spending money on pet projects and programs.

 

[mstp1992]

Good for them and good for their employees. Whether they could or couldn't have in the past really doesn't matter. They have additional revenue now as a result of the tax bill and they're passing some of the benefits on to their employees. Win win.

It's a publicity stunt. If they switch even a couple % of the recipients from voting (largely) democrat to republican then it's a bribe with benefits.

Don't think for a second that companies like Walmart give a damn about their employees.

 

[obfuscating]

The largest corporations are the biggest winners in this so called tax reform. I would certainly expect them to throw crumbs to the peons.

The argument from the folks opposing Trump's plan is the boomerang effect in 8? years when the cuts disappear and taxes go back up for the middle class.

These actions by some of the largest companies are good public relations. I guess any benefit, regardless how small, is good.

In 8 years whomever can either extend the cuts or do nothing and let them go back up... THat is what pisses off most of the politicians, they will be on the hook for either.

 

[Huey Grey]

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 Bentonville, Arkansas-based 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.

Wal-Mart, the nation’s largest private employer, has fought in recent years to improve its image in the U.S., as it weathered criticism over its treatment of employees. With the wage increase and bonus payment, the world’s biggest retailer seeks to even its pay gapwith resurgent rival Target Corp., while simultaneously sending a high-profile thank you to the U.S. government for slashing the corporate tax rate.

https://www.bloomberg.com/news/arti...u-s-hourly-wage-to-11-in-wake-of-tax-overhaul

Walmart employs 2 million people. So that's a $200 bonus. And it will only happen once. Whoopee.

 

[obfuscating]

It's a publicity stunt. If they switch even a couple % of the recipients from voting (largely) democrat to republican then it's a bribe with benefits.

Don't think for a second that companies like Walmart give a damn about their employees.

Okay, so which companies do "give a damn"?

If the money wasn't being dispersed (even at this marginal rate) to the employees I am guessing that ya'll be bitching about that as well?

 

[Huey Grey]

It's a publicity stunt. If they switch even a couple % of the recipients from voting (largely) democrat to republican then it's a bribe with benefits.

Don't think for a second that companies like Walmart give a damn about their employees.

Walmart was already paying close to $11 an hour. The lack of workers would have required them to raise it to this level even without the tax cuts.

 

[Hawkeyenuts66]

Is it enough to get them off food stamps?

If they don't live in high cost of living states it should. $11 an hour in Atlanta no, $11 an hour in rural Kentucky I bet it would. It's really not about the wage, it's the cost of living and how much can you consume with with you make.

 

[Huey Grey]

Okay, so which companies do "give a damn"?

If the money wasn't being dispersed (even at this marginal rate) to the employees I am guessing that ya'll be bitching about that as well?

My suspicion is that the companies who gave a damn were giving back to their employees well before last month. It's a complete PR stunt.

 

[naturalmwa]

Walmart paid nearly $8 billion in income tax in 2016 with an effective rate of 32% according to google. They just got a third of that cut with a top tax rate of 21% now, so almost a 3 billion savings. They plan to return just 300 million to the people. That seems like a bad deal Trump made.

 

[mstp1992]

Okay, so which companies do "give a damn"?

If the money wasn't being dispersed (even at this marginal rate) to the employees I am guessing that ya'll be bitching about that as well?

The ones in which employees have all along been praising company executives for the benefits they have already been receiving.

This is a publicity stunt.

Period.

Full stop.

 

[Huey Grey]

Employees who have worked for at least 20 years will get the full $1,000. Those people deserve it.

IMO, a $1,000 bonus for 20 years worth of work is a joke.

 

[hawkeye54545]

So the Trump hatred is so intense the fact people are getting raises is still a reason to rail on him. There are many reasons not to like Trump but conjuring up hate because people are getting money for whatever reason is stupid.

 

[Huey Grey]

4.5% unemployment rate. That's why they're raising wages by a buck. Not because of this tax plan. If Walmart could still get workers at $10, they would. If they could workers at $1, they would. To think that Walmart is suddenly growing a heart because of the tax cuts is beyond ridiculous.

 

[obfuscating]

My suspicion is that the companies who gave a damn were giving back to their employees well before last month. It's a complete PR stunt.

I am going to have to assume that you don't work or don't work in a Fortune 500 type environment. Most of the money large corps have has been kept out of the US due to the ridiculous taxes (Iowa - the state - is one of the worst as well for corp taxes). As many corps have said, the money will follow this flow:
1. Share holders
2. Investing back into the company
3. the workers

If you were delusional enough to think that corps were going to give huge raises\bonuses to their employess the first year this was enacted then you need to take a deeper look.

Let it play out, much like those that begged for the ACA to play out. It will either succeed of fail.

 

[obfuscating]

4.5% unemployment rate. That's why they're raising wages by a buck. Not because of this tax plan. If Walmart could still get workers at $10, they would. If they could workers at $1, they would. To think that Walmart is suddenly growing a heart because of the tax cuts is beyond ridiculous.

Of course - that's it. And you all wanted 15\hr and after that failed miserably where it was enacted, you are against any raise at all. Why do you all hate America so damn much?

 

[Huey Grey]

I am going to have to assume that you don't work or don't work in a Fortune 500 type environment. Most of the money large corps have has been kept out of the US due to the ridiculous taxes (Iowa - the state - is one of the worst as well for corp taxes). As many corps have said, the money will follow this flow:
1. Share holders
2. Investing back into the company
3. the workers

If you were delusional enough to think that corps were going to give huge raises\bonuses to their employess the first year this was enacted then you need to take a deeper look.

Let it play out, much like those that begged for the ACA to play out. It will either succeed of fail.

Actually I do work for a Fortune 500 company. But what does that have to do with a super low unemployment rate causing upward pressure on wages?

You don't actually believe that Walmart is doing this out of generosity for their fellow man, do you? And if so, what took them so long?

 

[naturalmwa]

Okay, so which companies do "give a damn"?

If the money wasn't being dispersed (even at this marginal rate) to the employees I am guessing that ya'll be bitching about that as well?

ESOPs

 

[obfuscating]

The ones in which employees have all along been praising company executives for the benefits they have already been receiving.

This is a publicity stunt.

Period.

Full stop.

We understand you are tenured so you can give 2 shits about those in the corp world.

Again, name the companies.

 

[Huey Grey]

Of course - that's it. And you all wanted 15\hr and after that failed miserably where it was enacted, you are against any raise at all. Why do you all hate America so damn much?

Um, dude, it's basic economics. Full employment means that pretty much anyone who has a job has one. So if you want to steal those employees from other companies you don't have a choice but to raise wages. That's why Walmart is going to $11. Not because they suddenly got a tax cut.

 

[Huey Grey]

We understand you are tenured so you can give 2 shits about those in the corp world.

Again, name the companies.

Carrier was the first one to play this PR game during Trump's administration.

 

[thewop]

$11.00 an hour and $1000?

Woooo!!! Baby, we going out tonight!

In reality, an extra $1,000 and a raise to a Wal-Mart employee is a pretty big deal. What do you actually hate about this? Is it just a fear that Poor's benefited from tax cuts? I don't understand.

 

[Huey Grey]

In reality, an extra $1,000 and a raise to a Wal-Mart employee is a pretty big deal. What do you actually hate about this? Is it just a fear that Poor's benefited from tax cuts? I don't understand.

The average is $200, not a $1,000. Walmart is doling out $400 million in bonuses divided by 2 million employees. That works out to an additional $4 a week. Big whoop.

 

[Mattski]

It's a publicity stunt. If they switch even a couple % of the recipients from voting (largely) democrat to republican then it's a bribe with benefits.

Don't think for a second that companies like Walmart give a damn about their employees.

3 million employees will disagree with you. People keep playing the publicity stunt card but to those living paycheck to paycheck, 2 bucks per hour and a 1k bonus is significant.

 

[obfuscating]

Um, dude, it's basic economics. Full employment means that pretty much anyone who has a job has one. So if you want to steal those employees from other companies you don't have a choice but to raise wages. That's why Walmart is going to $11. Not because they suddenly got a tax cut.

Competitive pay now due to tax reduction can cause wages to go up, no? When before the market was stagnant on pay and job-hopping was no longer gong to get you more $$$ no one moved Now that money is freed up, wages go up.