Walmart is boosting starting wages, providing a one-time bonus for employees and expanding benefits, the company said in a press release on Thursday, citing the tax cuts signed into law by President Trump last year. The plan benefits more than a million employees, the company told Axios.
Details: The bonus is based on length of service, with those who’ve worked 20 years eligible for $1,000. The company, which is the largest private employer in the U.S. and employs roughly 2.2 million people worldwide, is also raising its starting wage to $11 an hour. The current starting wage for store associates is $9 an hour. The company also said it plans to expand its maternity and paternity leave benefits.
We are on our way to wage growth and its companion, inflation. And not happening because of a government mandate. It’s happening because of a blossoming economy.