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).
Aurimas Sabulis, CEO of Dextall, unveils how AI‑driven prefabricated façades slash design time by 80%, labor by 87%, and accelerate affordable housing delivery.
Online broker Robinhood Markets will join the S&P 500 index Online broker Robinhood Markets will join the S&P 500 index as its stock rides higher on a cryptocurrency wave.
Trump wants interest rates to plummet to make borrowing cheaper and boost growth. Fed chair Jerome Powell and his allies say not so fast, they need to bala
Crunch Fitness President Chequan Lewis talks how gyms are adapting to GLP‑1 weight‑loss drugs, integrating AI-powered workouts and embracing new fitness trends.
Adam Greenblatt, BetMGM CEO, shares insights on football betting forecasts, the booming sports wagering industry, and the game‑changing enhancements to the app.