Some Walmart employees get raises, others to lose their jobs

  • Some Walmart employees get raises, others to lose their jobs

Some Walmart employees get raises, others to lose their jobs

Walmart confirmed Thursday that it is closing dozens of Sam's Club warehouse stores - a move that a union-backed group estimated could cost thousands of jobs - on the same day the company announced that it was boosting its starting salary for USA workers and handing out bonuses.

Audio will be available later today.

This announcement comes on the heels of so many similar announcements by companies like AT&T and Comcast, claiming that the new tax system allows these companies to give more money to their employees.

The store was closed Thursday to tell employees about the impending closure.

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.

A total of 63 Sam's Club locations nationwide will be closing. Several companies have since announced plans to invest more back into their employees.

- WalMart announced Thursday they're closing 10 percent of their Sam's Club Warehouse stores.

We've reached out to Walmart representatives for comment and more specifics, but messages have not been returned.

Although Walmart linked the moves to the tax cuts, it faces increased competition for the most qualified workers as the labor market tightens.

On Thursday, Walmart raised its minimum wage to $11 an hour from $9, citing the trillion-dollar tax cut signed late previous year by President Donald Trump.

That's when Walmart said it would begin paying entry-level workers $10 an hour, after a training period. Unemployment has been low for years, and big box store rival Target raised its own minimum wage to $11 a few months ago. The bonuses will cost it about $400 million in this fiscal year, which ends on January 31.

Emeraid Gems earns $11 an hour now after seven years at Walmart.

Walmart joins a growing list of other large companies who have announced bonuses and pay raises in response to a recently enacted tax reform law. "I used to get gas here". A one-time bonus will be given to those Walmart employees who won't receive a pay raise. "We need $15 and full-time to be able to support our families". It is one of at least 63 reported closures across the USA and is expected to impact thousands of workers. Those workers previously received up to eight weeks of maternity leave at half-pay, and were not entitled to parental leave. "The company is on track for about $12 billion in net income this year, so it will take about nine days of profit to recoup the extra spending", the report stated.