Walmart Boosts Minimum Wage To $11, Hands Out Bonuses Up To $1,000 For Hourly Workers
Nathan Bomey, USA Today
Walmart is making a small name change to reflect a big change in their business.
Walmart is boosting the minimum hourly wage for its U.S. employees to $11 and dishing out bonuses of up to $1,000, crediting President Trump's tax cut for enabling the move.
The increase for the nation's largest private employer also comes amid political pressure to bolster minimum wages and comes amid a hot streak for the retailer.
The big-box store chain, which has more than 1 million U.S. hourly employees, will reap a windfall from the U.S. corporate tax rate cut to 21%, down from 35%.
“Today, we are building on investments we’ve been making in associates, in their wages and skills development,” Walmart CEO Doug McMillon said in a statement. “It’s our people who make the difference and we appreciate how they work hard to make every day easier for busy families.”