Walmart is shedding 10,000 jobs by closing these stores. The $1000 bonus is only available to those who already make at least $11/hr, and it's on a sliding scale - you need to be there 20 years to get the full $1000. What they're "giving back" to the employees pales in comparison to what the tax cut will save them.
I really think that some corporations are embarrassed and have seen a need to at least give the APPEARANCE that the tax cut gift they just got will trickle down to employees. Bonuses are a one-time thing, and the company gets to write them off on their taxes. Any increase in pay will be passed on to the consumer - the company is NOT going to hold prices steady in the face of rising costs; that additional money in the paycheck will just translate to higher prices. So who wins here? Nobody. Economics 101.
Walmart's minimum wage was already $10/hr after training, so the bump is not that impressive. Get it up to $15/hr minimum, and now you're talking a minimal living wage. But then we'd have to pay a lot more for that junk they source from China because they won't cut their profit. Again, Economics 101. |
