Walmart ups hourly wage to $11, adds benefits after tax overhaul

Walmart ups hourly wage to $11, adds benefits after tax overhaul

Walmart ups hourly wage to $11, adds benefits after tax overhaul

Walmart, which own Sam's Club, released no formal statement about stores closing. Some closed Thursday; others will close later this month.

"Sam Walton, his dream, his vision is to make Walmart a better place, to make families happy, and to make the employees happy and to make everyone satisfied".

Walmart said it would increase the starting wage rate for all hourly associates in the USA to $11, expand maternity and parental leave benefits and provide a one-time cash bonus for eligible associates of up to $1,000.

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Walmart is reportedly cutting 3,500 co-manager positions and adding 1,700 lower-paid assistant store managers.

Local news reports said Sam's Clubs stores were closing in Texas, California, New Jersey, Ohio, Indiana and Alaska, among other states.

Sam's Club is closing 63 of its warehouse stores across the USA, nearly 10 percent of the locations in the 660-store chain. What's even worse is that they did it with out giving advance warning to most of its employees, many of whom reportedly showed up to work only to find the doors closed.

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The news of the closings came on the same day that Sam's Club's parent company, Wal-Mart, announced it was boosting its starting salary for all USA workers, including those at Sam's Club, to $11 an hour and handing out one-time cash bonuses.

The statement said that following a full review of its portfolio, the company made a decision to close several clubs to better align our stores with our ongoing strategy.

Those affected by the closure will also receive the wage increase and bonuses. Those with 20 years of service will get the full $1,000.

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Walmart says that after the closings it will have 597 clubs.

The company also plans to pay $2,000 bonuses this spring to about 60,000 hourly and salaried US employees.

The wage change is in addition to increases already planned for many USA markets in the coming fiscal year. The one-time bonus represents an additional payment to associates of approximately $400 million, Walmart said. Walmart is also amping up its paid maternity leave to 10 weeks, and paid parental leave to six weeks.

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