US retail giant Walmart announced Thursday its plan to raise wages for its employees across the country and pay out big bonuses in response to the recently passed GOP tax cuts; throwing more cold-water on prominent Democrats predictions of “the end of the world” after the President signed the sweeping overhaul.
Walmart –the largest single employer in multiple states throughout the nation- released an official statement this week, saying the megastore will raise its hourly wage for all associates to $11, expand maternity leave, and give out $1,000 in bonuses to eligible employees.
“Today, we are building on investments we’ve been making in associates, in their wages and skills development,” said Doug McMillon, Walmart president and CEO. “It’s our people who make the difference and we appreciate how they work hard to make every day easier for busy families.”
“We are early in the stages of assessing the opportunities tax reform creates for us to invest in our customers and associates and to further strengthen our business, all of which should benefit our shareholders,” he added.
The announcement is a far cry from House Minority Leader Nancy Pelosi’s predictions of “Armageddon” and the “end of the world.”
Other major American corporations, such as Southwest Airlines, AT&T, Boeing, and others have also announced major investments in US-based workers following the tax cuts.