Wal-Mart Announces Hourly Wage Increase

Ivan Schwartz
January 22, 2018

Sam's Club officials confirmed that 63 stores were abruptly closed nationwide.

While Walmart's announcement might dovetail favorable opinions about the GOP's new tax reform bill, some observers are taking the news of the pay hikes with a grain of salt, since the company also reportedly shut down 63 Sam's Clubs across the country Thursday.

Wal-Mart Stores Inc on Thursday announced it would raise the minimum wage for United States workers to US$11 an hour and pay bonuses, but announced plans to close 63 Sam's Club stores in the US. Three stores in Puerto Rico also closed.

A security guard was outside the store, telling would-be shoppers to come back the following day.

More than 60 Sam's Clubs will be closing in the coming weeks, leaving more than 10,000 people out of work.

Members of the closing clubs will be able to change their memberships to another location or cancel their membership, according to the company's Twitter account.

The money is expected to expand out and have an impact through the community.

"Bite me", said one Sam's Club customer who was frustrated she couldn't run her errands Thursday morning.

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Customers said they are frustrated they found out at the front doors of the stores. Today, I want to share some important decisions we've made.

Sam's Club CEO John Furner notified employees of the closures in a company-wide email sent out on Thursday, Business Insider reported. The other locations have not been announced.

"It's allowing them to focus on things that are working", Simon said on "Closing Bell". The first to be converted will be in Memphis, Tennessee. "It's our people who make the difference and we appreciate how they work hard to make every day easier for busy families", he said in a statement. Many customers were shocked when they arrived at the Sam's Club on San Pedro Avenue to a almost empty parking lot usually buzzing with customers.

Have they turned? Or is this all just some PR fluff to mask the fact that they're closing 63 locations of their sister company, Sam's Club, across the USA - a move that is speculated to impact more than 11k workers?

There are more than 650 Sam's Club locations across the U.S and Puerto Rico. "We don't ordinarily think of raising one's labor costs as a way of becoming more competitive". We have momentum, and now is the time to accelerate our transformation efforts.

Since the passage of the Tax Cuts and Jobs Act, a number of companies announced employee bonuses, including NBC News' parent company Comcast, plus AT&T, JetBlue and a host of financial institutions including Bank of America and Wells Fargo. In order to qualify for the maximum bonus, employees must have 20 years of uninterrupted service, or more.

He noted that the pharmacy will remain open through January 27.

Other reports by GizPress

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