Walmart, an American multinational retail corporation and biggest private employer of the nation, waded in to the supporting politics’ bumpy waters on Thursday. The company has announced that sit is going to utilize its few of savings under the latest tax law of providing increased wages, bonuses as well as amplified benefits to the hourly workers.
Facing a stiff competition of getting qualified employees in a tight market of labors along with a pressure by unions to enhance wages, the giant retailer announced that it would be raising its minimum wage from $9 to $11 per hour. The company has also declared to expand the benefits of family leaves and maternity and will offer bonuses to eligible employees as up to $1,000.
Walmart ties its raised wages to its expectation of receiving tax break like many other prominent companies shave been doing since few weeks. At the same time, it is providing support to the assertions by the Trump administration and Congressional Republicans that the new tax regulation will be beneficial for not just a wealthy but also the working class of Americans.
A marketing professor, Scott Galloway from the Stern School of Business at the New York University, said in a statement given in an interview that, “They snatched defeat from the jaws of victory. Walmart made a smart move in increasing wages and investing in human capital. Where they screwed up was politicizing it. They should have been taking a victory lap tonight and instead they are back on their heels.”