As Guy would say, the tax reform apocalypse continues.
Early Thursday morning, Walmart and Sam's Club announced wages will be increased for workers, that paid maternal and parental leave is being expanded and bonuses are being sent out after the passage of tax reform. They're also giving $5000 to workers who adopt a child.
Excited to share some news today! We’re raising our starting wage for all hourly associates in the U.S., expanding benefits & offering a one-time bonus! ?? Learn more from CEO Doug McMillon: https://t.co/vgBJ1KRLB6 pic.twitter.com/pPEdZCYSr1— Walmart (@Walmart) January 11, 2018
In a letter to workers of the company, CEO Doug McMillon further explained the benefits of the tax plan.
"We’ve got some really good news to share today. As you know, the President and Congress have approved a lower business tax rate. Given these changes, we have an opportunity to accelerate a few pieces of our investment plan. 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," McMillon wrote. "So, we’re pleased to tell you that we’re raising our starting wage to $11 an hour for Walmart U.S., Sam’s Club, Supply Chain, eCommerce and Home Office hourly associates effective in February."
"I’m also excited to tell you that we’re making an important change to benefits by expanding our paid leave policy to provide full-time hourly associates with 10 weeks of paid maternity leave and six weeks of paid parental leave. This expanded parental leave also applies to salaried associates and to parents who adopt. We will also contribute $5,000 to the cost of adoption," he continued. "I recently heard from two associates on this topic—one through an open door note and one at a town hall. Both pointed out how limited our policy was for adoptive parents so we’re happy to be addressing that concern now."
Walmart has been a regular target of the left and their demands government force the company to raise the minimum wage. They just did it voluntarily because the government is taking less.
Over the past two weeks, dozens of companies have announced major benefits for employees as a result of the corporate tax rate being significantly lowered through Republican tax reform.