News Worms
News Worms


Dozens of Sam's Club stores closing

Dozens of Sam's Club stores closing

This decision to close clubs also comes after an announcement that Walmart employees will get bonuses and raises to 11 dollars an hour starting next month.

Audio will be available later today. In citing the pay raises and bonuses, the retailer joined other large companies - including AT&T, Southwest Airlines and Wells Fargo - that have said savings under the tax law provided the impetus for making similar moves. Three stores in Puerto Rico also closed. Hourly employees at its websites, distribution centers and its Bentonville, Arkansas, headquarters, will benefit from the wage increase.

Walmart also said Thursday it would expand its parental-leave policies for hourly workers and begin providing $5,000 in aid to workers adopting a child.

Walmart will close 63 of its 660 Sam's Clubs over the next few weeks, with some shut already.

"The figure could be higher or lower depending on tax breaks the company might be losing, or new advantages in the treatment of capital investments and other provisions", the Times reported.

The company said the wage increase - $11 per hour starting pay - benefits all hourly US workers at its stores, including Sam's Club, as well as hourly employees at its websites, distribution centers - including the one in Rock Falls - and its Bentonville, Arkansas, headquarters.

We've reached out to Walmart representatives for comment and more specifics, but messages have not been returned.

That's when Walmart said it would begin paying entry-level workers $10 an hour, after a training period. Walmart CEO Doug McMillon said, "Tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S". For years, there has been a left-wing cottage industry in comparing Walmart to Costco, which pays its worker much more for what superficially seems like similar work. "The one-time bonus I'll be getting won't help me long term". The payouts, which should total roughly $400 million, will result in a one-time charge that the company will take in its fiscal fourth quarter. They're increasing their paid maternity leave for full-time hourly employees to 10 weeks of full pay.

With six locations in Lubbock, including its Neighborhood Market, Wal-Mart is the eighth largest employer in the city, with 1,810 employees in June 2016, according to the Lubbock Economic Development Alliance. Walmart said in the press release that laid-off employees will receive 60 days' worth of pay.

Walmart is the latest major corporation to attribute employee bonuses to the Trump administration's tax cuts, which would effectively reduce the corporate tax rate from 35 percent to 21 percent.

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