Two Sam's Clubs in Wisconsin to close

Two Sam's Clubs in Wisconsin to close

One part of the reform was the reduction of the corporate tax rate, meaning big businesses like Walmart pay less in taxes and keep more for spending at their discretion.

Large employers have been under pressure to boost benefits for workers because unemployment rates are at historic lows, allowing job seekers to be pickier.

Thursday Walmart increased its starting pay from nine to eleven dollars an hour.

"This is about the evolution of retail", said Michael Mandel, chief economic strategist at the Progressive Policy Institute.

According to Business Insider, Walmart has closed or is planning to close at least 63 of its existing Sam's Club locations, with more to come at a later date, laying off thousands of employees in the process.

Walmart said the new tax law will create "some financial benefit for the company" and that is it is looking at additional investments.

The $1,000 bonus will go to employees who do not benefit from the newly announced wage increases. Sign up for our daily newsletters here.

Walmart executives said they were able to boost employee benefits following the tax reform, which cut U.S. corporate taxes from 35 to 21 percent. The raise will range from $200 to $1,000, depending on workers' length of employment with Walmart. Ashley Zimmerman asked the company on via Twitter about her membership, which she had renewed last month for 100.

Mnuchin responded saying some companies will invest capital while others will return money to workers.

Walmart is also expanding its parental and maternity leave policy, providing full-time hourly associates in the US with 10 weeks of paid maternity leave and six weeks of paid parental leave. Previously, full-time hourly workers were eligible for up to eight weeks of paid maternity leave and two weeks of paid parental leave, while hourly workers received half pay during family leave. Walmart is also adding paid parental leave for new fathers, adoptive parents, non-birthing mothers, and foster parents.

Well, apart from the fact those bonuses were only meant for employees who had been working at the company for 20 years - a benchmark that makes most Walmart workers ineligible - the news about wage hike was supposed to distract the public and media from very disturbing news.

Hourly associates in Washington, D.C., California, Washington State and MA already earn at least $11 an hour.

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