Local

Thanks To Trump Tax Plan, Walmart Raises Starting Wages, Handing Out $1000 Cash Bonuses

Walmart, the country’s largest private employer, is boosting its starting salary for U.S. workers to $11 an hour, giving a one-time cash bonus of up to $1,000 to eligible employees and expanding its maternity and parental leave benefits.

The retailer said Thursday that changes to its compensation and benefits policy will impact more than a million hourly workers in the U.S. The wage increase, up from $9 per hour for new workers, comes into play next month.

The company is also creating a new benefit to assist employees with adoption expenses.

CEO Doug McMillon said in prepared statement that recently enacted tax legislation “gives us the opportunity to be more competitive globally and to accelerate plans for the U.S.

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

The nation’s unemployment rate has sat at 4.1 percent for three months now, the lowest level since 2000. The average for hourly earnings rose 2.5 percent in December from a year earlier. Still, that’s about a full percentage point lower than is typical in a healthy economy.

The pay hike at Walmart follows similar actions at rival Target Corp. Target raised its minimum hourly wage to $11 in October, and will raise wages to $15 by the end of 2020.

The wage increase announced Thursday by Walmart benefits all hourly U.S. workers within its stores, Sam’s Clubs, eCommerce, logistics and home office.

Walmart said that the one-time bonus will be given to all eligible full and part-time hourly U.S. employees. The amount of the bonus will be based on length of service. Workers with at least 20 years qualify for a $1,000 bonus.

Walmart on Thursday promised full-time hourly U.S. employees 10 weeks of paid maternity leave and six weeks of paid parental leave. Salaried employees will also receive six weeks of paid parental leave.

The Bentonville, Arkansas, 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.

(AP)

Click to add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Local

More in Local

d8c858b700b221b345fc0afbcf53195f.jpg

Long-Term Mortgage Rates Rise: 30-Year Hits 4.04 Percent

adminJanuary 19, 2018
74cf2e54c0a9092cd9484c62e8c5bba4.jpg

TRAGEDY IN BEIT SHEMESH: Son Killed R’L, Father Injured By An Egged Bus

adminJanuary 19, 2018
f61ac0dd0880da094772487ae3d9e6cf.jpg

Luggage Limbo: Bags Still Missing After JFK Airport Woes

adminJanuary 19, 2018
6ba3bfbfdd01026ece84a1df9ef60972.jpg

WATCH THIS: Flatbush Hatzolah Hero Pulls Elderly Man Out Of Burning Car

adminJanuary 18, 2018
a655687b4a0cef9c020e79129052d94a.jpg

US Marshal Killed, At Least 2 Officers Injured In Shooting While Nabbing Fugitive In Pennsylvania

adminJanuary 18, 2018
f6d85d7bf5b81ae5a648adf89c1a5ccc.jpg

WATCH: Trump Throws CNN’s Jim Acosta “OUT” Of The Oval Office

adminJanuary 18, 2018
9334d6dbfa2e0793d50ee402e0fade33.jpg

TRAGEDY IN BEIT SHEMESH: Son Killed R’L, Father Injured By An Egged Bus

adminJanuary 18, 2018
3784d5d66cee76702eeecb932d165cc0.jpg

HOUSE OF HORRORS: California Teen Escapes, Leads Deputies To 12 Siblings Shackled To Beds

adminJanuary 17, 2018
b3e61d91c07b8d13092500e1447dc33e.jpg

STAR-K Kosher Certified Food Options Take Off At JFK, LaGuardia, And Newark Airports

adminJanuary 17, 2018