Walmart workers get a raise thanks to tax reform

 

Taxes are an overhead cost. Most businesses would prefer to spend at least some of that money on making their employees happier. Happy employees are usually good employees. It’s a fine line.

(From Bloomberg)

Wal-Mart Stores Inc. is boosting its starting hourly wage to $11 and delivering bonuses to employees, capitalizing on the U.S. tax overhaul to stay competitive in a tightening labor market.

The increase takes effect next month and will cost $300 million on top of annual wage hikes that were already planned, the world’s largest retailer said Thursday. The one-time bonus of up to $1,000 is based on seniority and will amount to an additional $400 million. The company is also expanding its maternity and parental leave policy and adding an adoption benefit.

Click here for the article.