The world’s largest retailer said the increase will take effect in February and will also expand maternity leave and parental leave benefits and provide a one-time cash award of up to $ 1,000 depending on length of service.
Hours later, Wal-Mart was announced that it was shutting down warehouse Sam’s Club store 63 and lost thousands of jobs.
It said raises and bonuses will benefit more than 1 million U.S. hourrs, but the pay rise is still well below $ 15 an hour and pressure groups think they need to offset the low growth in retail wages for decades.
Wal-Mart announced that after the U.S. Republican-controlled U.S. Congress last month passed a tax bill that reduced corporate tax rates from 35% to 21% after companies such as AT & T, Wells Fargo and Boeing.
Donald Trump and his Republicans think big tax cuts will benefit workers and lead to more investment in US companies.
In a statement, Doug McMillon, president and chief executive officer, said: “We are in the early stages of assessing the tax reforms that create opportunities for us, saying tax laws give retailers a more global presence Power opportunities and accelerate the U.S. investment plan.
The company said wage increases will cost about 300 million U.S. dollars in addition to the planned pay rise for the next fiscal year.
The company provides one-time bonuses to all full-time and part-time employees based on length of service and a $ 1,000 bonus for staff working for 20 years. This fiscal year one-time bonus of 400 million US dollars.
Wal-Mart’s current minimum wage is 9 US dollars per hour, which was launched in 2015. As of 2016, employees completing internal training programs are eligible for $ 10 per hour. The retailer said it spent about $ 2.7 billion on wages in the past few years.