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Wal-Mart Raises Hourly Wage to $11 in Wake of Tax Overhaul

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  • Wal-Mart Raises Hourly Wage to $11 in Wake of Tax Overhaul


    Wal-Mart Raises Hourly Wage to $11 in Wake of Tax Overhaul


    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 annual 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.

    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 company seeks to even its pay gap with resurgent rival Target Corp., while simultaneously sending a high-profile thank you to the U.S. government for slashing the corporate tax rate.

    “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.
    The first to state his case seems right until another comes and cross-examines him.

  • #2
    How to raise wages, Trump style!!

    tightening labor market
    That Wall will make things even tighter! Maybe even will rise to $15!!!
    Remember that you are dust and to dust you shall return.

    Comment


    • #3
      This sounds like a Russian plot.

      Comment


      • #4
        Basic economics. Something has to be cut, somewhere.
        Visit my website! I have cookies. http://www.amyelizabethatkins.com

        Comment


        • #5
          Originally posted by Cow Poke View Post

          Wal-Mart Raises Hourly Wage to $11 in Wake of Tax Overhaul


          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 annual 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.

          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 company seeks to even its pay gap with resurgent rival Target Corp., while simultaneously sending a high-profile thank you to the U.S. government for slashing the corporate tax rate.

          “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.
          The true test is to see how many companies that got the tax break will translate the money to wage and benefit increases. Have any other companies announced they’d do this besides Walmart?

          Comment


          • #6
            Originally posted by whag View Post
            The true test is to see how many companies that got the tax break will translate the money to wage and benefit increases. Have any other companies announced they’d do this besides Walmart?
            There are a bunch of them listed here.
            • Aflac: $250 million boost in U.S. investments and increased 401(k) benefits, including one-time contribution of $500 to every employee’s retirement savings account.
            • American Savings Bank: $1,000 bonus to 1,150 employees, nearly the entire workforce, and increase of minimum wage from $12.21 an hour to $15.15.
            • Aquesta Financial Holdings: $1,000 bonus to all employees, increase in minimum wage to $15 per hour.
            • Associated Bank: $500 bonus to nearly all employees and increased minimum wage to $15 per hour, up from $10.
            • AT&T: $1,000 bonus to all 200,000 U.S. workers and $1 billion boost in U.S. investments.
            • Bank of America: $1,000 bonus for about 145,000 U.S. employees.
            • Bank of Hawaii: $1,000 bonus for 2,074 employees, or 95 percent of its workforce, and increase of minimum wage from $12 to $15.
            • BB&T Corp.: $1,200 bonus for almost three-fourths of associates, or 27,000 employees, and increase in minimum wage from $12 to $15.
            • Boeing: $300 million boost in investments to employee gift-match programs, workforce development, and workplace improvements.
            • Central Pacific Bank: $1,000 bonus to all 850 nonexecutive employees and increase in minimum wage from $12 to $15.25.
            • Comcast NBCUniversal: $1,000 bonus for more than 100,000 employees.
            • Deleware Supermarkets Inc.: $150 bonus to 1,000 nonmanagement employees and $150,000 in new investment in employee training and development programs.
            • Express Employment Prc: $2,000 bonus to all nonexecutive employees at Oklahoma City headquarters.
            • Fifth Third Bancorp: $1,000 bonus for all 13,500 employees and increase of minimum wage to $15 for nearly 3,000 workers.
            • First Hawaiian Bank: $1,500 bonus for all 2,264 employees and increase in minimum wage to $15.
            • First Horizon National Corp.: $1,000 bonus to employees who do not participate in company-sponsored bonus plans.
            • Kansas City Southern: $1,000 bonus to employees of subsidiaries in the U.S. and Mexico.
            • Melaleuca: $100 bonus for every year an employee has worked for the company—an average of $800 for each of 2,000 workers.
            • National Bank Holdings Corp.: $1,000 bonus to all noncommissioned associates who earn a base salary under $50,000.
            • Nelnet: $1,000 bonus for nearly all of 4,100 employees.
            • Nephron Parmaceuticals: wage increase of 5 percent for its 640 employees.
            • Nexus: wage increase of 5 percent and plans to hire 200 workers in 2018.
            • OceanFirst Bank: increase in minimum wage from $13.60 to $15, affecting at least 166 employees.
            • PNC Bank: $1,000 bonus to 47,500 employees and $1,500 increase to existing pension accounts.
            • Pinnacle Bank: $1,000 bonus for all full-time employees in Nebraska, Kansas, and Missouri.
            • Pioneer Credit Recovery: $1,000 bonus to employees.
            • Rush Enterprises Inc.: $1,000 discretionary bonus to 6,600 U.S. employees.
            • Sinclair Broadcast: $1,000 bonus to nearly 9,000 employees.
            • SunTrust: increase of minimum wage to $15, $50 million increase in community grants, 1 percent 401(k) contribution for all employees.
            • Turning Point Brands, Inc.: $1,000 bonus to 107 employees.
            • Washington Federal, Inc.: wage increase of 5 percent for employees earning less than $100,000 per year and increased investments in technology infrastructure and community projects.
            • Wells Fargo: increase in minimum wage from $13.50 to $15, and higher charitable giving by about 40 percent, to $400 million.
            • Western Alliance: wage increase of 7.5 percent for the lowest-paid 50 percent of employees.


            There's a running list being maintained here.
            The first to state his case seems right until another comes and cross-examines him.

            Comment


            • #7
              Originally posted by Cow Poke View Post
              There are a bunch of them listed here.
              • Aflac: $250 million boost in U.S. investments and increased 401(k) benefits, including one-time contribution of $500 to every employee’s retirement savings account.
              • American Savings Bank: $1,000 bonus to 1,150 employees, nearly the entire workforce, and increase of minimum wage from $12.21 an hour to $15.15.
              • Aquesta Financial Holdings: $1,000 bonus to all employees, increase in minimum wage to $15 per hour.
              • Associated Bank: $500 bonus to nearly all employees and increased minimum wage to $15 per hour, up from $10.
              • AT&T: $1,000 bonus to all 200,000 U.S. workers and $1 billion boost in U.S. investments.
              • Bank of America: $1,000 bonus for about 145,000 U.S. employees.
              • Bank of Hawaii: $1,000 bonus for 2,074 employees, or 95 percent of its workforce, and increase of minimum wage from $12 to $15.
              • BB&T Corp.: $1,200 bonus for almost three-fourths of associates, or 27,000 employees, and increase in minimum wage from $12 to $15.
              • Boeing: $300 million boost in investments to employee gift-match programs, workforce development, and workplace improvements.
              • Central Pacific Bank: $1,000 bonus to all 850 nonexecutive employees and increase in minimum wage from $12 to $15.25.
              • Comcast NBCUniversal: $1,000 bonus for more than 100,000 employees.
              • Deleware Supermarkets Inc.: $150 bonus to 1,000 nonmanagement employees and $150,000 in new investment in employee training and development programs.
              • Express Employment Prc: $2,000 bonus to all nonexecutive employees at Oklahoma City headquarters.
              • Fifth Third Bancorp: $1,000 bonus for all 13,500 employees and increase of minimum wage to $15 for nearly 3,000 workers.
              • First Hawaiian Bank: $1,500 bonus for all 2,264 employees and increase in minimum wage to $15.
              • First Horizon National Corp.: $1,000 bonus to employees who do not participate in company-sponsored bonus plans.
              • Kansas City Southern: $1,000 bonus to employees of subsidiaries in the U.S. and Mexico.
              • Melaleuca: $100 bonus for every year an employee has worked for the company—an average of $800 for each of 2,000 workers.
              • National Bank Holdings Corp.: $1,000 bonus to all noncommissioned associates who earn a base salary under $50,000.
              • Nelnet: $1,000 bonus for nearly all of 4,100 employees.
              • Nephron Parmaceuticals: wage increase of 5 percent for its 640 employees.
              • Nexus: wage increase of 5 percent and plans to hire 200 workers in 2018.
              • OceanFirst Bank: increase in minimum wage from $13.60 to $15, affecting at least 166 employees.
              • PNC Bank: $1,000 bonus to 47,500 employees and $1,500 increase to existing pension accounts.
              • Pinnacle Bank: $1,000 bonus for all full-time employees in Nebraska, Kansas, and Missouri.
              • Pioneer Credit Recovery: $1,000 bonus to employees.
              • Rush Enterprises Inc.: $1,000 discretionary bonus to 6,600 U.S. employees.
              • Sinclair Broadcast: $1,000 bonus to nearly 9,000 employees.
              • SunTrust: increase of minimum wage to $15, $50 million increase in community grants, 1 percent 401(k) contribution for all employees.
              • Turning Point Brands, Inc.: $1,000 bonus to 107 employees.
              • Washington Federal, Inc.: wage increase of 5 percent for employees earning less than $100,000 per year and increased investments in technology infrastructure and community projects.
              • Wells Fargo: increase in minimum wage from $13.50 to $15, and higher charitable giving by about 40 percent, to $400 million.
              • Western Alliance: wage increase of 7.5 percent for the lowest-paid 50 percent of employees.


              There's a running list being maintained here.


              Add Theologyweb to that list!!! I am tripling everyone's salary!

              Comment


              • #8
                Originally posted by Sparko View Post
                Add Theologyweb to that list!!! I am tripling everyone's salary!
                In addition to the $1,000 bonus?
                The first to state his case seems right until another comes and cross-examines him.

                Comment


                • #9
                  Yes!!!
                  That's what
                  - She

                  Without a clear-cut definition of sin, morality becomes a mere argument over the best way to train animals
                  - Manya the Holy Szin (The Quintara Marathon)

                  I may not be as old as dirt, but me and dirt are starting to have an awful lot in common
                  - Stephen R. Donaldson

                  Comment


                  • #10
                    Originally posted by Cow Poke View Post
                    In addition to the $1,000 bonus?
                    Sorry I had to spend the bonus money on rum and bacon.

                    Comment


                    • #11
                      Originally posted by Sparko View Post
                      Sorry I had to spend the bonus money on rum and bacon.
                      This is why I could never be a pirate. Whisky >> Rum
                      I DENOUNCE DONALD J. TRUMP AND ALL HIS IMMORAL ACTS.

                      Comment


                      • #12
                        Originally posted by Zymologist View Post
                        This is why I could never be a pirate. Whisky >> Rum
                        Oh so THAT's why you could never be a pirate. I was wondering.

                        Comment


                        • #13
                          Originally posted by Sparko View Post
                          Oh so THAT's why you could never be a pirate. I was wondering.
                          Yeah, pretty much the only reason.
                          I DENOUNCE DONALD J. TRUMP AND ALL HIS IMMORAL ACTS.

                          Comment


                          • #14
                            Originally posted by Zymologist View Post
                            Yeah, pretty much the only reason.
                            I thought it might be because you live in Montana and there ain't no ocean to pillage on.

                            Comment


                            • #15
                              Originally posted by Sparko View Post
                              I thought it might be because you live in Montana and there ain't no ocean to pillage on.
                              Bah, minor details
                              I DENOUNCE DONALD J. TRUMP AND ALL HIS IMMORAL ACTS.

                              Comment

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