Walmart Raises Wages
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Walmart is boosting its starting hourly wage from $10 to $11 and handing out bonuses to employees. The increase takes effect next month and will cost the retailer $300 million on top of already scheduled annual wage hikes. The one-time bonuses are based on seniority and are up to $1,000. The company is also expanding its maternity and parental leave policy and adding an adoption benefit, saying that it is taking opportunity to capitalize on the U.S. tax overhaul to stay competitive in a tightening labor market.
