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Walmart workers get a raise thanks to tax reform

Friday, January 12, 2018 8:17
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Taxes are an overhead cost. Most businesses would prefer to spend at least some of that money on making their employees happier. Happy employees are usually good employees. It’s a fine line.

(From Bloomberg)

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.

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Source: https://www.ac2news.com/2018/01/walmart-workers-get-a-raise-thanks-to-tax-reform/

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