Walmart Raises Wages - 63 Costco Locations Closing

It’s a day of good news – and bad news for Walmart employees  today, as the company has announced it’s raising the starting wage from  nine-dollars to eleven-dollars for all hourly employees nationwide. The  company credits the White House tax overhaul for the move.

In a statement to employees, Walmart CEO Doug McMillon  expressed a desire to "continue investing" into employees with improved  benefits. That includes expanded maternity or parental leave benefits,  and a possible cash bonus of up to one-thousand-dollars. So where’s the bad news?

Sam's Club, a subsidiary of Walmart, has shuttered 63 of its 660  locations across the country. As in, the locks are already on the doors.  On top of that, 12 locations are being converted into e-commerce  distribution centers. So far, parent company Walmart Incorporated has  not commented. While some workers are expected to be moved to Walmarts,  there’s no confirmation about exactly how many people will be getting  pink slips.

Source: ABC News