Published: Thu, January 11, 2018
Money | By Armando Alvarado

Wal-Mart boosts starting wages, pays bonus, expands benefits

Wal-Mart boosts starting wages, pays bonus, expands benefits

Donald Trump and his fellow Republicans have argued that the big corporate tax cut will benefit workers and lead to more investment by U.S. companies. Workers with more than 20 years of experience will receive the full $1,000; workers with less than two years of experience will receive $200 with various amounts based on service, CNBC reported.

Walmart is raising hourly pay from $9 to $11 as a result of recent tax law changes.

The Bentonville, Arkansas-based company also promised help with adoptions, offering full-time hourly and salaried workers $5,000 per child that can be used for expenses such as adoption agency fees, translation fees and legal or court costs.

Walmart said that the one-time bonus will be given to all eligible full and part-time hourly USA employees.

The retailer said Thursday changes that to its compensation and benefits policy will impact more than a million hourly workers in the USA, with the wage increase effective next month.

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Labour groups have said that past rises in wages at the retailer have led to a cut in work hours for employees as the company sought to offset the impact on profits.

Walmart employs about 2.2m people globally, with more than 1.5m in the United States, and had total global revenue of almost $500 billion past year. The average for hourly earnings rose 2.5 percent in December from a year earlier. In 2016, it said employees who finished an internal training program would be eligible for $10 an hour.

Walmart has invested $2.7 billion in higher wages and training for workers to lower turnover and make the shopping experience more appealing. Full-time hourly workers in the United States will get 10 weeks of paid maternity leave and six weeks of paid parental leave.

The firm's initial post-tax-reform announcement differs from that of competitor Target Corp., which said Tuesday that it would deploy additional cash flow from the tax law to "long-standing capital deployment priorities, including capital investments, dividends and additional share repurchase".

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