Walmart is abruptly closing 63 Sam's Club stores and laying off thousands of workers

[icymist]

Walmart is closing 63 Sam's Club stores across the US, the company told Business Insider on Thursday afternoon, after reports of abrupt store closings began to emerge.

Sam's Club has not said how many employees are losing their jobs. Each Sam's Club warehouse employs about 175 people, meaning more than 11,000 people could be impacted.

In some cases, employees were not told their store had closed before showing up to work on Thursday. Those employees learned their store would be closing when they found the store's doors locked and a notice announcing the closing, Sam's Club workers told Business Insider. At some stores, employees were turned away by police officers.

Ten of the affected stores will be turned into e-commerce distribution centers, and employees of those stores will have the opportunity to reapply for positions at those locations, a Walmart official said.

http://www.businessinsider.com/walmart-suddenly-closes-sams-club-stores-2018-1

[LakeVermilion]

1. Wow! Look what Walmart is doing with their tax cut!

Corporations will ask for even more, because that's what they do. If taxes were zero, they would ask for a subsidy. Rigged system.

[still_one]

2. but, but, yesterday they were touting through the MSM how they were increasing the minimum wage from

9 to 11 dollars because of the tax cut.

I doubt this will get as much coverage as the bullshit they spewed yesterday

[delisen]

3. Walmart & Corporate Shame List

Walmart joins other fascist-leaning corporations giving cover to Trump/Republican phony tax "reform."

Some of these lie and mislead, and give cover to Trump by announcing that they are sharing the tax bill windfall with workers. Their claims are often hollow. Raises and bonuses are being combined with layoffs in many cases.


https://www.usatoday.com/story/money/business/2018/01/10/less-than-meets-eye-bonuses-not-raises-u-s-tax-cut-windfall/1021163001/

American Airlines is handing out $1,000 bonuses to its employees. So are AT&T, Bank of America and Nationwide Insurance. The same for Comcast, JetBlue Airways and US Bancorp.

Such announcements, coming from dozens of companies, have followed the passage of the Republican tax plan that President Donald Trump signed into law last month. The plan slashed the corporate tax rate from 35% to 21%. The companies say the bonuses they've announced are a way to share some of their bounty with their workers.

The bonuses are one-time payouts, not the permanent pay raises that Trump and congressional Republicans have said will eventually result from the corporate tax cuts. Over time, bonuses are far less valuable to employees than wage increases.

So far, most companies haven't said whether permanent pay increases are in the works. And economists caution that the corporate income tax cut's effect on average pay, if any, might not become apparent for several years.