10 Matching Annotations
  1. Oct 2019
    1. Walmart is a place of opportunity. Here, you can go as far as your hard work and talent will take you.Our associates are building better lives for their families, and we’re proud to be a part of their success stories. We’re investing in our associates by offering competitive pay, advanced training through Walmart Academies, career development through our Pathways training program and, most of all, a chance to move up. No matter what goals our associates set for themselves, we want to help them grow professionally and personally. To that end, we offer a variety of education benefits.Training and Opportunity Walmart Academies is an immersive training program that is tied to a working supercenter, allowing associates to receive both classroom and sales floor training in advanced retail skills and soft skills like leadership, communications and change management. In 2018 alone, we trained 450,000 associates including frontline supervisors, department managers and assistant managers in our Academies.A new video game called Spark City lets anyone “play” as a department manager. Through the game, associates enrolled in Walmart Academies learn the same techniques and processes that they will use on the sales floor in real life. The game is free to the public on the Apple app store and the Google Play store.In Walmart’s fiscal year 2019 we promoted more than 215,000 people to higher-paying jobs with increased responsibility.More than 75% of our salaried store management teams started as hourly associates.Store managers, on average, earn $175,000 annually and manage and help mentor 300 associates.Full- and part-time associates are eligible for quarterly bonuses based on store performance. In Walmart’s fiscal year 2019, hourly associates earned nearly $800 million in bonuses.We’ve converted nearly 175,000 associates from part-time to full-time in fiscal year 2019.
  2. Nov 2018
    1. So where does the remaining $2 billion a year go? Into expansion? No, ten years of the savings will help pay for the $20 billion stock buyback announced last fall.
    2. All of this also has to be weighed against the additional money Walmart will get from the tax cuts. According to what a senior fellow at the Institute on Taxation and Economic Policy told the New York Times, Walmart could easily save $2.2 billion a year from the tax cuts. The company says that the wage increases and bonuses would run $700 million.

      2200000000 - 700000000 = 1500000000 tax bonus after wage increases and bonuses

    3. And then, another 3,500 store co-managers will lose their jobs. These would be higher-paying positions in the stores. But, Walmart will hire 1,700 assistant store managers, a lower salaried job.

      Firing of higher paid employees in order to higher lower paid employees

    4. The store closures are expected to cut 10,000 jobs, with another 1,000 being lost at the company's headquarters.
    5. Tax cuts may have helped offset the costs of tax-deductible spending that seems likely to have happened anyway (as wage strategies are worked out long in advance in any intelligently run company). But helping them are the store closing, firings, and demotions that Walmart also announced.
    6. Layoffs and demotions offset the wage increase
    7. The Bureau of Labor CPI inflation calculator says that $5 in January 1983 was the equivalent of $12.60 in December 2017. The average wage in December was $22.30. In 1983, $5 an hour was poor pay and $11 is today.
    8. Don't misunderstand, any increase in the entry level wages with an employer of Walmart's size is good. The lower the wage, the more likely people will need public assistance of some kind. Whether you want to call these subsidies to employees rather than employers, it is still subsistence money, not munificent remuneration. Having the government deliver it means employers pay less directly and still have workers live through the night to show up the next morning, which is why it's rightly called an effective employer subsidy, just as specialized and targeted massive tax breaks and loopholes are direct subsidies.

      Remuneration is the total of the financial and non-financial benefits to the employee of all the elements in the employment package. An employee who receives any remuneration from his or her base-period employer is not considered to be in unemployment. “Remuneration” is defined to include “severance, termination or dismissal pay.”

    9. companies have claimed that the sudden influx of money, which will likely go to boosting stock prices (top executives and board members are shareholders, too), actually allows them to invest in employees and their businesses. But they generally follow a pattern of doing something seemingly flashy for employees that lasts a year or less following by something far more obviously moderate over time