The Associated Press reported on Thursday that an anonymous company official said about 10 Sam's Club locations are being "repurposed into e-commerce distribution centers". They just don't agree on how much, he said. Sam's Club president and CEO John Furner says, "we will be closing some clubs, and we notified them today".
On Thursday, Treasury Secretary Steven Mnuchin praised Wal-Mart's wage hike during a White House briefing. "It's our people who make the difference and we appreciate how they work hard to make every day easier for busy families". Back in October, before the tax reform bill passed, Target raised its wages to $11 an hour and committed to paying its workers $15 by 2020.
Full and part-time workers at Walmart, the world's biggest retailer, will receive a bonus of up to $1,000 based on their length of service.
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Walmart also announced that full-time hourly USA employees can get 10 weeks of paid maternity leave and six weeks of paid parental leave.
The wage increase announced Thursday by Wal-Mart benefits all hourly US workers within its stores, Sam's Clubs, eCommerce, logistics and home office.
Walmart employees are getting a pay bump, and the company says it's courtesy of the corporate tax cut Republicans rushed through Congress a year ago. Even before the tax cut was enacted, the same pressures seemed to be in play last fall, with Walmart's competitor Target announcing an $11 minimum wage in September.
Online retailers typically pay warehouse employees who pack and ship orders more than store jobs pay. Eighteen U.S. states increased their minimum wage on Jan.1 but the federal minimum wage has been $7.25 since 2009.
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The roll of companies giving workers bonuses reads as if the list was lifted from the Fortune 500: American Airlines, Comcast, JetBlue, AT&T, Bank of America, U.S. Bank, Nationwide Insurance. Around three-quarters of that comes from the United States, which suggests a tax savings of $2.1 billion.
"The decision by Walmart and other companies to implement raises they'd already planned and credit it to the GOP's corporate tax giveaway is politics at its most cynical", Pearl said in a statement. Boeing, AT&T, Wells Fargo, and Comcast have all said they were either investing more in the USA or offering perks to employees, from bonuses to minimum wage boosts to other investments in employee development.
Shares of Walmart closed up 0.3 per cent at US$100.02. It marks the third such increase by the company since 2015.
And it is very good news. The benefit, which will be available to full-time hourly and salaried workers, will total $5,000 per child.
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Walmart's starting pay is now $9 for all hourly employees, or $10 for those who completed a training program. The retailer has spent about $2.7 billion to increase wages over the past few years, which has helped in improving customer service and keeping its stores clean. Full-time hourly and salaried workers will also receive 10 weeks of paid maternity leave and six weeks of paid parental leave. Walmart's jump to $11 an hour is set to begin in February for all Walmart U.S., Sam's Club, Supply Chain, eCommerce, and Home Office hourly associates.