Published: Mon, January 22, 2018
Markets | By Noel Gibbs

Two Sam's Clubs in Wisconsin to close

Two Sam's Clubs in Wisconsin to close

Walmart did not immediately respond to queries Thursday about the Sam's Club closures, including on the total number of stores and employees affected.

According to the Associated Press, approximately 10 stores will be re-purposed into e-commerce distribution sites.

"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", Sam's Club said on Twitter. "A minimum wage that is below the market wage is an irrelevant rule", Guell said. Each Sam's Club warehouse employs about 175 people and the move could leave as many as 11,000 employees out of a job. "The rise of e-commerce is leading to higher wages". The closures mean thousands of Walmart workers will soon be out of a job.

Walmart officials had credited their decision to raise wages to money saved from the Republicans' tax-overhaul plan passed in December. This increase was slammed by long-serving workers as unfair to them. The store pays $12 an hour and offers a 401 (k) account after a staffer has worked for a year, but Rose realizes that may not be enough for many potential workers. Walmart said it expects the wage increase to cost $300 million for its next fiscal year, which starts February 1, and the bonuses to cost $400 million. Walmart said the one-time bonuses would cost the company $400 million and will be based on length of service.

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"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.

Workers and customers learned about the store closures on the same day Walmart drew praise from the White House for raising pay and giving out worker bonuses because of the new lower corporate tax rate.

Walmart has made its mark as a leader in low price and wide variety. It has done well and strengthened its hand in online retail as many other retailers have struggled. Target hiked its starting wage to $11 past year, and plans to raise it to $15 by 2020.

On Jan. 1, the starting wage for large companies with more than 25 employees in California rose to $11 an hour from $10.50 as part of a state minimum-wage law approved in 2016.

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All full and part-time hourly associates in the USA are eligible for the bonus, which will be based on length of service up to $1,000 for those with at least 20 years of employment.

Other policy changes Walmart announced - particularly an expanded parental and maternity leave policy - could further help the retailer attract and retain better workers.

To much fanfare, Walmart announced a pay hike Thursday for its one-million-plus army of hourly employees.

Sam's Club members are being told of three options: Shop at another store and receive a three-month membership extension, get a full refund through a Sam's Club egift card or received a full refund via check, sent within six weeks.

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