Audio will be available later today. "It's never an easy decision to close a store or club, but this is a part of actively managing our portfolio in order to maintain a healthy business into the future".
The $1,000 bonus will go to employees who do not benefit from the newly announced wage increases.
Numerous company's more than one million employees will get wage increases, but they'll also see benefits from the benefits changes Walmart plans to make.
Wal-Mart Stores Inc.is closing 63 of its Sam's Club stores nationwide, including the store at 3360 El Camino Ave., in Sacramento.
"The figure could be higher or lower depending on tax breaks the company might be losing, or new advantages in the treatment of capital investments and other provisions", the Times reported.
According to a letter sent from Sam's Club to the Connecticut Department of Labor, the business's location is located at 2 Boston Post Road will close to the public on January 26.
Walmart representatives did not respond to a question about the timing of the dual developments.
"Tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the United States", McMillon added.
And how much richer will Walmart be in light of the new tax law the company is crediting as the big reason for raises and bonuses for workers?
With about 175 employees per location, that would translate into some 11,025 people affected by the move. Walmart employees previously started at $9 an hour, with a rise to $10 after completing a training program.
In fact, in Pennsylvania, the state's minimum wage - set at $7.25 - has not been raised, believe it or not, since 2009. "Walmart can give $11 an hour but how many people will be working?" "I used to get gas here".
In a separate news release, also issued Thursday, Walmart CEO Doug McMillon attributed the changes to a lower business tax rate recently approved by President Donald Trump and the U.S. Congress. Full-time hourly and salaried workers will also receive 10 weeks of paid maternity leave and six weeks of paid parental leave.
Walmart said laid-off employees will receive the bonus, plus 60 days of pay and severance if eligible.
Walmart has announced an increase to its minimum wage and a series of bonuses in light of the Republican tax bill, but the bulk of its corporate tax cut still won't trickle down to its workers.