Norfolk location among more than 60 Sam's Clubs to close

A Sam's Club in Bentonville Ark. is shown Thursday

The new minimum wage will be $11 an hour, up from the $10 rate, which was set in early 2016.

Other changes include one-time bonuses up to $1,000, depending on how long employees have worked for the company.

An expanded parental and maternity leave policy, providing full-time hourly associates in the USA with 10 weeks of paid maternity leave and six weeks of paid parental leave.

These changes are obviously all very positive.

Walmart CEO and President Doug McMillon credited the Trump administration's major tax reform in December for the new employee benefits.

"We plan to continue investing in you, in our customers through lower prices, and in our future - especially in technology to help improve your jobs and the experience for our customers", the release states.

Perkins estimated that Walmart could save as much as $2 billion in taxes this year under the new plan.

Corporate profits after tax are higher than they've been in decades - much higher than they were back when investments and the economy were booming. The cost to the company is estimated to be $400 million.

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For the fiscal year ended January 31, 2017, Walmart's total revenue was $485.9 billion.

The idea that Walmart couldn't afford to do this until the GOP cut its taxes is risible. "This announcement is an attempt to fix a crumbling image, while ignoring thousands of its workers who struggle year after year to pay their bills or depend on government assistance".

The company said the wage increase benefits all hourly us workers at its stores, including Sam's Club.

"To get faster wage growth, the economy needs faster productivity growth", he said. But after years of recovery, the pool of unemployed people still looking for work is falling.

Of those locations, about 50 will be going out of business for good. And that will mean sustained wage hikes. Beginning in February 2018, Walmart employees will receive a new benefit that provides financial assistance for adopting a child. "A minimum wage that is below the market wage is an irrelevant rule", Guell said. Hourly employees at its websites, distribution centers and its Bentonville, Arkansas, headquarters, will benefit from the wage increase. NY will hit $15 statewide within the next few years.

Although Wal-Mart's move lifts its overall starting USA wage from $10 an hour (after workers take a training course), the increase matches what's already the minimum wage in California.

"If that's the spin they want to put on this, OK, but it's hard to tie that statement economically with a decision to pay higher wages", Christ said.

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