Walmart hikes pay for its US staff to $11 an hour

New York: Walmart announced it will raise the minimum wage for US workers to $11 an hour and pay bonuses, but announced plans to close 63 Sam’s Club stores in the US.
Owned by Walmart, Sam’s Club is a chain of membership-only warehouse stores that offer discounted prices. Up to 12 of the shuttered Sam’s Club stores would be converted into warehouses for e-commerce, the company said in a news release.
The wage increase starting in February elevates base starting pay from the current $9 an hour, and Walmart also said it would pay employees a one-time bonus of up to $1,000, expand parental and maternity leave programmes and provide financial assistance to employees adopting children. The new employee benefits will affect more than one million employees at Walmart US, Sam’s Club, in e-commerce and other departments, Walmart said. Walmart executives said they were able to boost employee benefits following the tax reform, which cut US corporate taxes from 35 to 21 per cent. — AFP