Walmart recently changed its minimum wage to $11. The retail giant will also be handing out bonuses to some of its tenured employees, which means some will be taking home bonus checks as large as $1,000. In order to get that check for $1k, employees must have worked at the chain for over 20 years. Those with less than two years of experience can expect a bonus of around $200. Still, not a bad check to get.
But, Walmart isn’t stopping there….the company is also expanding its maternity and paternal leave benefits. It sounds like it’s never been a better time to be a Walmart employee, and the company credits the new GOP tax plan for enabling bump. According to USA Today, the big-box store chain, which has more than 1 million U.S. hourly employees, will reap a windfall from the U.S. corporate tax rate cut from 35% to 21%. Walmart came out and said its still looking into new legislation, and any benefits could lead to “additional investments.”
Though Walmart handing out money to its employees shows signs of prosperity, the chain confirmed Thursday that it will be closing at least 50 Sam’s Club stores around the country. It proves that the retail landscape is still rather treacherous, especially in the new online retail age with giants like Amazon lurking around.