More Than 1 Million Get a Raise at Wal-Mart

Wal-Mart announced major changes to the way it compensates employees Thursday. The retail giant hiked its starting wage to $11 an hour and offering increased benefits for parents as well as a one-time $1000 bonus for some workers. But it’s not out of generosity. It’s thanks to savings that come from the President’s new tax plan. “We actually estimate that Wal-Mart can generate about $4 billion in incremental free cash flow,” Barclays Analyst Karen Short, told Cheddar. “This is just a portion of the allocation.” The company joins the likes of Bank of America, JetBlue, and AT&T, which have all returned savings from the tax plan to their workers. But wages at Wal-Mart have been in the spotlight for some time. Facing pressure from advocacy group’s, the retailer has upped what it pays employees three times in the past 3 years. Still, even with the announced increases, the starting wage is still below the $15 rate for which employees have argued. For full interview [click here](https://cheddar.com/videos/wal-mart-raises-wages-cites-tax-reform).

More In Business

Video Game Performers Will Strike Over AI concerns

Hollywood’s video game performers are going on strike, throwing part of the entertainment industry into another work stoppage.

Widespread Gains Send Wall Street Higher To Close a Shaky week

U.S. stocks climbed Friday to close out a bumpy week dominated by sharp, market-cleaving swings.

Tech Stocks’ Terrible, Horrible, No Good, Very Bad Week

Pretty much all the tech stocks driving the market were looking shaky—and they weren't the only ones.

Small Stocks Are About to Take over? Wall Street Is Unconvinced...

Some of the smallest stocks on Wall Street have shown much more life recently. but professional investors still aren’t convinced.

Global Shares Tumble after Big Tech’s Wipeout on Wall Street

Global shares have dropped as pessimism set in over Wall Street's nose-dive related to Big Tech's pullback.

Domino's Q2: Strong Growth Amidst Inflation and Future Challenges

Domino’s Pizza reported a 7.1% revenue rise to $1.1B amid value meal competition and inflation. Q3 may slow, with caution on growth and consumer spending.

Load More