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You can find the current article at its original source at https://www.theguardian.com/business/2018/jan/11/walmart-trump-tax-bill-wages-increase-workers
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| Walmart uses massive Trump tax gain to offer modest pay rise to workers | Walmart uses massive Trump tax gain to offer modest pay rise to workers |
| (6 days later) | |
| Walmart said on Thursday it would raise entry-level wages for hourly employees to $11 an hour as it benefits from the biggest overhaul of the US tax code in 30 years. | Walmart said on Thursday it would raise entry-level wages for hourly employees to $11 an hour as it benefits from the biggest overhaul of the US tax code in 30 years. |
| The world’s largest retailer said the increase would take effect in February and that it would also expand maternity and parental leave benefits and offer a one-time cash bonus, based on length of service, of up to $1,000. | The world’s largest retailer said the increase would take effect in February and that it would also expand maternity and parental leave benefits and offer a one-time cash bonus, based on length of service, of up to $1,000. |
| Hours after it made the announcement Walmart said it was closing 63 of its warehouse Sam’s Club stores with the loss of thousands of jobs. | Hours after it made the announcement Walmart said it was closing 63 of its warehouse Sam’s Club stores with the loss of thousands of jobs. |
| The pay increase and bonus will benefit more than 1 million US hourly workers, it said, but the pay increase remains far below the $15 an hour unions and pressure groups say is needed to make up for decades of low growth in retail wages. | The pay increase and bonus will benefit more than 1 million US hourly workers, it said, but the pay increase remains far below the $15 an hour unions and pressure groups say is needed to make up for decades of low growth in retail wages. |
| Walmart’s announcement follows companies like AT&T, Wells Fargo and Boeing, which have all promised more pay for workers after the Republican-controlled US Congress passed a tax bill last month that cut the corporate tax rate to 21% from 35%. | Walmart’s announcement follows companies like AT&T, Wells Fargo and Boeing, which have all promised more pay for workers after the Republican-controlled US Congress passed a tax bill last month that cut the corporate tax rate to 21% from 35%. |
| Donald Trump and his fellow Republicans have argued that the big corporate tax cut will benefit workers and lead to more investment by US companies. | Donald Trump and his fellow Republicans have argued that the big corporate tax cut will benefit workers and lead to more investment by US companies. |
| “We are in the early stages of assessing the opportunities tax reform creates for us,” the president and chief executive officer, Doug McMillon, said in a statement. The tax law gives the retailer an opportunity to be more competitive globally and to accelerate investment plans for the United States, he said. | “We are in the early stages of assessing the opportunities tax reform creates for us,” the president and chief executive officer, Doug McMillon, said in a statement. The tax law gives the retailer an opportunity to be more competitive globally and to accelerate investment plans for the United States, he said. |
| The increase in wages will cost approximately $300m on top of wage hike plans that had been included in next fiscal year’s plans, the company said. | The increase in wages will cost approximately $300m on top of wage hike plans that had been included in next fiscal year’s plans, the company said. |
| The company is offering a one-time bonus to all full- and part-time employees based on their length of service, rising to $1,000 for employees with 20 years of service. The one-time bonus will amount to $400m in the current fiscal year. | The company is offering a one-time bonus to all full- and part-time employees based on their length of service, rising to $1,000 for employees with 20 years of service. The one-time bonus will amount to $400m in the current fiscal year. |
| The current minimum wage at Walmart is $9 an hour, which was introduced in 2015. As of 2016, employees who finish an internal training program are eligible for $10 an hour. The retailer says it has spent about $2.7bn to increase wages over the past few years. | The current minimum wage at Walmart is $9 an hour, which was introduced in 2015. As of 2016, employees who finish an internal training program are eligible for $10 an hour. The retailer says it has spent about $2.7bn to increase wages over the past few years. |
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