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News & Current Events Discuss Walmart and the new tax plan at the General Forum; How are Chuck and Nancy going to spin this? https://www.cnbc.com/2018/01/11/walm...-tax-bill.html...

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Old 01-11-2018, 05:11 PM
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Default Walmart and the new tax plan

How are Chuck and Nancy going to spin this?

https://www.cnbc.com/2018/01/11/walm...-tax-bill.html
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Old 01-11-2018, 05:29 PM
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Default Re: Walmart and the new tax plan

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Originally Posted by Dog Man View Post
How are Chuck and Nancy going to spin this?

https://www.cnbc.com/2018/01/11/walm...-tax-bill.html


One of the first things they could point out is that doing this in the first quarter, it is unlikely Wal-Mart will be doing much new hiring. And I fact they just did some seasonal reduction in their work force.
Effectively spun these two natural events in the retail cycle might become evil deeds done on purpose.

It makes things a bit harder for me as our start wage is now $9.50 up $1.00 from last year. however we offer 40 hours during a straight week. No weekend work.


We have some contracts which will be difficult at $11.00 an hour. That is effectively $14.25 per hour labor costs. Some automation may allow us to run more units per hour . But sampling, what we must always do manually, is going to get tight or negative on the margins. It comprises about 30% of our revenues.

My Sanctuary City competitors will now have an additional edge.
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Old 01-11-2018, 05:40 PM
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Default Re: Walmart and the new tax plan

I really do not wish to gloat about this.

It is after all human lives in the balance

Walmart is abruptly closing 63 Sam's Club stores and laying off thousands of workers
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Old 01-11-2018, 05:47 PM
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Default Re: Walmart and the new tax plan

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Originally Posted by FrancSevin View Post
One of the first things they could point out is that doing this in the first quarter, it is unlikely Wal-Mart will be doing much new hiring. And I fact they just did some seasonal reduction in their work force.
Effectively spun these two natural events in the retail cycle might become evil deeds done on purpose.

It makes things a bit harder for me as our start wage is now $9.50 up $1.00 from last year. however we offer 40 hours during a straight week. No weekend work.


We have some contracts which will be difficult at $11.00 an hour. That is effectively $14.25 per hour labor costs. Some automation may allow us to run more units per hour . But sampling, what we must always do manually, is going to get tight or negative on the margins. It comprises about 30% of our revenues.

My Sanctuary City competitors will now have an additional edge.
Walmart will hire new people when they build new stores though, right? I don't know how many they plan to build, but if they do, they will have to hire more people.
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Old 01-11-2018, 07:22 PM
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Default Re: Walmart and the new tax plan

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Walmart will hire new people when they build new stores though, right? I don't know how many they plan to build, but if they do, they will have to hire more people.
They closed down 63 Sam's Club stores.

This is similar to when Comcast and AT&T announced new benefits for employees, and then decided to cut jobs.

As far as this goes the new minimum is $11/hr. AFAIK at this moment , if youre under $11, you go to $11. If you're over $11, you get the one-time payout bonus amd the amount is dependent on how long you've worked there.

We may get more details on the 16th.
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Old 01-12-2018, 11:26 AM
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Default Re: Walmart and the new tax plan

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They closed down 63 Sam's Club stores.

This is similar to when Comcast and AT&T announced new benefits for employees, and then decided to cut jobs.

As far as this goes the new minimum is $11/hr. AFAIK at this moment , if youre under $11, you go to $11. If you're over $11, you get the one-time payout bonus amd the amount is dependent on how long you've worked there.

We may get more details on the 16th.
Yes, I heard 53 but still.... The question then is, do you think they would have closed down the stores if the tax plan had not gone through? They probably would have. And do you think that Walmart would have made the positive changes they did if the tax plan had not gone through? They probably would NOT have.

I don't know, but have you heard of any other big businesses that are giving out bonuses while closing down stores?

Costco should be reaping the rewards of Sam's shutting down don't ya think? I'll bet their stock is going up.
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Old 01-12-2018, 11:40 AM
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Default Re: Walmart and the new tax plan

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Originally Posted by Dog Man View Post
How are Chuck and Nancy going to spin this?

https://www.cnbc.com/2018/01/11/walm...-tax-bill.html
Let me take a shot at it. Note, there is some serious tongue in cheek.

$11.00 is not $15 dollars an hour, therefore it is not a living wage. How are people supposed to survive on $11 an hour??

Why is the bonus 'up to' $1,000? Why aren't ALL employees receiving $1,000? Discrimination!!

But they are closing stores left and right, so anything bonuses they give is on the back of some poor individual who deserves a job. Let's not get into the profitability of the closing location, these people deserve jobs and Wal-Mart should pay them wages regardless!

Wal-Mart is ebil, I tell you, ebil!!


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Old 01-12-2018, 12:00 PM
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Default Re: Walmart and the new tax plan

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Originally Posted by GottaGo View Post
Let me take a shot at it. Note, there is some serious tongue in cheek.

$11.00 is not $15 dollars an hour, therefore it is not a living wage. How are people supposed to survive on $11 an hour??

Why is the bonus 'up to' $1,000? Why aren't ALL employees receiving $1,000? Discrimination!!

But they are closing stores left and right, so anything bonuses they give is on the back of some poor individual who deserves a job. Let's not get into the profitability of the closing location, these people deserve jobs and Wal-Mart should pay them wages regardless!

Wal-Mart is ebil, I tell you, ebil!!


That that sounds like them alright. It's about the only thing they can do.

They are losing so bad everyday, that I see us getting a super majority come November.
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Old 01-12-2018, 12:44 PM
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Default Re: Walmart and the new tax plan

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Originally Posted by Dog Man View Post
Yes, I heard 53 but still.... The question then is, do you think they would have closed down the stores if the tax plan had not gone through? They probably would have. And do you think that Walmart would have made the positive changes they did if the tax plan had not gone through? They probably would NOT have.

I don't know, but have you heard of any other big businesses that are giving out bonuses while closing down stores?

Costco should be reaping the rewards of Sam's shutting down don't ya think? I'll bet their stock is going up.
From what I've been told, those stores closed because of poor sales, so the tax cut likely has nothing to do with it. What I dont like however is the timing of it all. Walmart makes this big press release about how folks are getting raises and bonuses, which is nice; but, then quietly on the same day, closes down 63 Sam's Clubs, laying off thousands, some with little to no notice.

As far the new benefits go, I believe the tax cut might have accelerated the change, but this was coming soon regardless.

Retailers have been gradually boosting wages for years now, as the economy has been growing and labor market tightening for as long. I remember when $9 at Macy's and other retail businesses was being treated as a big deal; above the minimum wage across most of the country at the time, and a signal of a new strategy in the service industry to attract and retain talent, and to reduce turnover. Especially the latter; replacing and training new employees, and losing older ones is expensive. A high turnover rate can be very costly for any business.

Target last year announced a new starting wage of $11 that took affect this year, and they're going to $15 by 2020. I look at what Walmart announced yesterday as part of the broader trend that's been taking place in the retail market.
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Old 01-12-2018, 12:54 PM
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Default Re: Walmart and the new tax plan

My question right now is on how this will change pay scales. The base pay scale now goes like this:

Grade A: $9-$10
Grade B: $10.50
Grade C $12.50
Grade D: $15.00

A the minimum, we might see A and B get lumped in together into an $11 start rate. Will they do that, or will they give grades B-D an appropriate raise, 50 cents to a dollar more?

I can see complaints about wage compression on the way if there's little adjustment, espeiclaly if they do the minimum.
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