Walmart is raising starting wages for hourly employees to $11 and offering a one-time cash bonus of up to $1,000, the company said Thursday.
The retailer also said it was expanding maternity and parental-leave benefits, as well as creating a new benefit to assist with adoption expenses . . .
Walmart CEO Doug McMillon said the changes were a direct result of the new tax law.
“We are early in the stages of assessing the opportunities tax reform creates for us to invest in our customers and associates and to further strengthen our business, all of which should benefit our shareholders,” McMillon said in a statement. “However, some guiding themes are clear and consistent with how we’ve been investing — lower prices for customers, better wages and training for associates and investments in the future of our company, including in technology” . . .
The cash bonus will go to employees who don’t benefit from the new wage increases — meaning they are already paid more than $11 an hour. It will range from $200 to $1,000 depending on workers’ length of employment with Walmart. (Read more from “Walmart Gives Workers Pay Raise, Here’s Why” HERE)