Norfolk Sam's Club among several closing across the nation

Companies give raises bonuses because of tax reform

Companies give raises bonuses because of tax reform

A Sam's Club store on the city's south side at 340 E. Edgewood Boulevard will close on January 26, a company spokesperson confirmed Thursday.

Walmart executives said they were able to boost employee benefits following the tax reform, which cut U.S. corporate taxes from 35 to 21 percent.

The retailer declined to say how many jobs would be cut but the closures could affect up to about 11,000 jobs as part of the closings.

Walmart "appeared to tie the pay increase - though not the store closings - to the tax bill passed by Congress last month", Jim notes.

Walmart is closing four Sam's Clubs in Texas and several others among its 660 warehouse store fleet across the U.S.

Amid the sweeping US tax overhaul, Walmart said Thursday it's raising its hourly wage to $11, giving new bonuses to employees and expanding maternity and parental leave.

The company has not publicly commented on the closing other than posting on Twitter after multiple questions from customers: "After a thorough review of our existing portfolio, we've chose to close a series of clubs and better align our locations with our strategy".

"Our hope is that many associates at the Club will choose to stay with the company via transfer and we'll begin working to make that happen", Keene said.

The Louisiana Workforce Commission responded to the news of Sam's Club's closure its Cortana location in Baton Rouge implementing a program to help those who will be laid off.

According to Sam's Club spokeswoman Amy Wyatt-Moore, 10 of those 63 stores will repopen as eCommerce fulfillment centers, the first of which will open in Memphis, Tennessee. We will be closing some clubs, and we notified them today.

The company also plans to pay $2,000 bonuses this spring to about 60,000 hourly and salaried USA employees.

"Today, we are building on investments we've been making in associates, in their wages and skills development", Doug McMillon, the president and CEO of Walmart, said Thursday.

The expanded parental leave policy would provide full-time hourly workers with 10 weeks of paid maternity leave and six weeks of paid parental leave.

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