Walmart Turns Over Tax Reform Savings To Workers With New $11 Starting Wage

Walmart is capitalizing on its newfound savings under the recently signed tax reform bill by increasing workers’ starting hourly wage to $11 and providing substantial bonuses to employees, in an effort to remain competitive in an increasingly tight labor market.

The retail giant announced Thursday that the wage increase and seniority based bonuses take effect next month. The one time bonuses of up to $1,000 will cost the company $400 million, while increasing workers’ starting hourly wage from $9 to $11 will cost $300 million on top of pre-planned wage increases.