The world’s largest trading network raises its workers ‘ wages. Republican tax reform such a positive impact on the balance of Walmart, the company decided to increase the minimum wage to $11 per hour.
In addition, employees whose remuneration is above the minimum, will receive lump sum bonuses in the amount of 1 thousand dollars, depending on seniority in the company.
New salary and bonus of more than 1 million peopleworking at Walmart will receive in February.
On this policy the trading network said following the giants AT&T, Wells Fargo & Co and Boeing, which received in connection with the change of the profit tax from 35 to 21% additional funds reallocated their part for the benefit of its employees.
Costs associated with payments, Walmart is estimated at $300 million to increase salaries and almost $400 million on lump sum payments.
«Tax reform gives us the opportunity to be globally more competitive and to accelerate the implementation of the plans of the United States,» said chief Executive officer Doug McMillan.
With the increase in the minimum rate to $11 per hour salary of Walmart employee excluding paid holidays will average $22 thousand a year, which is $4.6 thousand less than the amount adopted by the Bureau of the U.S. census, as the poverty level for a family of 4 people.
A major retail chain before Walmart raised wage rates. Given the reduction of unemployment by 1.6% in 2015, amounting to 5.7%, the company will be able to compete in the hiring of personnel.
Minimum wage, Walmart has increased in 2015 and 2016 (respectively up to $9 and $10) that the total cost of the network in $2,7 billion.
Experts predict, to 2020 year, Walmart will raise the minimum rate of wage to $15, because of the improvement of the company profile on the market in recent years.
