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).
With Gamestop and other meme stocks back on the rise, it brings to mind some similarities between 2021 and 2024 economically… and that’s not necessarily good.
After 10 years as a men's wear brand, the popular athleisure brand recently launched its women's line, redefining standards and championing inclusivity.
According to the 2024 Acorns Money Matters Report, nearly a quarter of Americans are worried they could become homeless – and don’t know how easy it is to save.
Even with inflation slightly higher than the Federal Reserve's 2% goal, still expect the central bank to cut rates three times this year, Cetera's CIO says.
