Walmart to raise starting hourly wage to $11, offer paid parental leave

NATION-WORLD     Walmart raises hourly wage to $11 expands benefits     
       Walmart credited President Trump's tax cut for enabling the new policy
NATION-WORLD Walmart raises hourly wage to $11 expands benefits Walmart credited President Trump's tax cut for enabling the new policy
Author

12 January, 2018

Wal-Mart Stores Inc. will raise the starting wage rate for all of its USA hourly associates to $11, expand maternity and parental leave benefits, and give eligible full- and part-time employees a one-time cash bonus of up to $1,000.

The company, which is the nation's largest private-sector employer, said it's also expanding its parental and maternity leave policy. Retailers, in general, have one of the highest average effective tax rates because a majority of their operations are in the US.

"Tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S.", Walmart CEO Doug McMillon said Thursday. "It's our people who make the difference and we appreciate how they work hard to make every day easier for busy families".

Economists have argued that one-time bonuses, while significant for workers living paycheck-to-paycheck, are not as meaningful as permanent wage increases.

The company said the changes are a way to allow workers to "share in tax savings". Paying workers more will help ensure those stores are pleasant shopping environments - a necessity for Walmart if it is to keep growing its sales. President Donald Trump cheered the announcement with a tweet, saying, "Great news, as a result of our TAX CUTS & JOBS ACT!" But it's safe to say that, over 10 years, this corporate tax cut will be worth over $18 billion to Walmart.

Mohamed Salah wins CAF Player of the Year
The award is traditionally voted for by the head coaches or technical directors of all Africa's national teams. The awards ceremony took place on Thursday in Accra, the capital city of Ghana .

David Letterman's Netflix show premieres this month with guest Barack Obama
Netflix has provided its first glimpse at David Letterman's forthcoming talk show titled My Next Guest Needs No Introduction . Subsequent episodes will be released once a month from February through June, adding up to a total of six 60-minute episodes.

Apple warns iPhones, iPads and Mac computers hit by Intel flaw
Apple this evening has officially released a statement on the Meltdown and Spectre bugs affecting ARM and Intel processors. IDC estimated that there are 1.5bn PCs in use around the world today, out of which 90pc are powered by Intel processors.

Walmart's wage increase will take effect in February. The one-time bonus will amount to $400 million in the current fiscal year and the company will take a one-time charge in the fourth-quarter of the current fiscal year to account for the charge.

Walmart, the favorite target of attacks on the left for exploiting their workforce, will include a one-time cash bonus to eligible employees as high as $1,000, depending on seniority. Additionally, the Bentonville, Ark. -based mega-retailer is creating a new benefit to help associates with adoption expenses. Salaries associates will also receive six weeks of paid paternal leave. Full-time hourly workers will also receive 10 weeks of paid maternity leave and six weeks of paid parental leave. Previously, the company didn't offer any paid leave for them. Hourly workers will be paid between $11 and $24.70 an hour.

The company raised its minimum wage to $9 an hour in 2015.

The minimum wage increase comes about a year after Walmart hiked hourly pay to at least $10 for most workers. The federal minimum wage is $7.25. The idea is to reward employees who won't benefit from the new starting wage.

Lately, much of the talk about Walmart's showdown with Amazon.com has centered on the old-school retailer building stronger e-commerce muscles.


More news


  • LaVar Ball: Lakers 'don't want to play for' Luke Walton

    Luke Walton has been feeling the heat recently, but thankfully for us, he's coping with a terrific sense of humor. The Lakers went into Sunday's game against the Atlanta Hawks on a 9-game losing streak.
    Trump Goes After 'CNN Flunky' Jake Tapper After Stephen Miller Interview

    Trump Goes After 'CNN Flunky' Jake Tapper After Stephen Miller Interview

    White House senior policy adviser Stephen Miller appears during a televised interview with CNN's Jake Tapper on January 7, 2018. Ronald Reagan had the same problem and handled it well. "The book is best understood as a work of poorly written fiction".

    Checking Indicators on Ishares MSCI Eurozone ETF (EZU) — Market Focus

    Being able to see the overall picture when the markets become turbulent may allow the investor to move forward with confidence. Investors will commonly use Williams %R in conjunction with other trend indicators to help spot possible stock turning points.
  • 4 powerlifters killed in accident

    4 powerlifters killed in accident

    Four national-level weight lifters were killed in a road accident on the Delhi-Panipat highway on Sunday, IANS reported. Yadav and the other injured weight-lifter were rushed to the Max Hospital in New Delhi's Shalimar Bagh for treatment.
    McGregor Attacks Nurmagomedov On Twitter But Remains Hush On Return

    McGregor Attacks Nurmagomedov On Twitter But Remains Hush On Return

    Tony Ferguson fight could take place to decide who faces McGregor , as long as he makes his mind up by March. McGregor ultimately lost the fight inside the distance to Mayweather.

    Texans GM Rick Smith taking extended leave of absence

    It is unlikely the team would allow him to coach next season without signing him to a contract extension in the offseason. O'Brien has been firmly on the hot seat in Houston and has rarely seen eye to eye with GM Rick Smith.
  • Trump seeks $18 billion to extend border wall over 10 years

    Trump seeks $18 billion to extend border wall over 10 years

    The official spoke on condition of anonymity because the plan has not been made public. The document doesn't specify where the extended wall should be built.
    North Dakota State avenges loss to James Madison to win FCS championship

    North Dakota State avenges loss to James Madison to win FCS championship

    A jump-ball incomplete pass at the goal line in the final minute ended JMU's quest to win back-to-back titles. NDSU 17 JMU 13 - Marcus Marshall rushes for a 1-yard touchdown with 9:26 left in the third quarter.
    Alex Trebek Endures Surgery To Remove Blood Clots From His Brain

    Alex Trebek Endures Surgery To Remove Blood Clots From His Brain

    Alex Trebek has had brain surgery for blood clots after a fall three months ago, producers of " Jeopardy! " said Thursday. The 77-year-old host was born in Sudbury, Ont., and went on to host " Jeopardy " in 1984.
  • Chicago Bears: Matt Nagy could bring Albert Wilson with him

    Chicago Bears: Matt Nagy could bring Albert Wilson with him

    He got a big break, though it came with a pay cut, when he took the job as a coaching assistant during the 2010 season. Nagy was promoted to offensive coordinator in 2016, but he did not call plays until Week 13 of this season.
    DHS to end protections for some Salvadoran immigrants

    DHS to end protections for some Salvadoran immigrants

    Lawmakers from both parties who represent cities and states with large immigrant populations blasted Monday's DHS decision, including Rep.
    Predicting Antonio Conte's starting XI for FA Cup clash

    Predicting Antonio Conte's starting XI for FA Cup clash

    Chelsea manager Antonio Conte is expected to rest several key men on Saturday. He has to continue in this way and for sure this situation will change".