Walmart, America’s biggest employer, announced on Thursday that it would be giving employees a $1000 bonus this year. They’re one of a handful of companies doing this in response to the Republican tax bill. Sounds great, right? Well, there’s a bit of a catch to it. According to the press release:
The amount of the bonus will be based on length of service, with associates with at least 20 years qualifying for $1,000.
That’s right. Employees need to have committed two decades of their lives to get the full bonus, equating to a $50 a year bonus. In an interview with Splinter, Walmart spokesman Blake Jackson went into further detail. Based on tenure as of January 31st, 2017:
- 0-2 years: $200
- 2-4 years: $250
- 5-9 years: $300
- 10-14 years: $400
- 15-19 years: $750
- 20 years and up: $1,000
So, the longer you’ve been there, the less per year your bonus is. And even for the new employees, there’s another catch.
Walmart also announced that they would increase their wages to $11 per hour, a $1 to $2 jump depending on whether or not the employee completed a training program. Not much a raise considering how much the company is about to profit from the tax bill, but for the newer employees, it means they might not get their generous 200 bucks. If the employee is benefitting from the $1 increase, they’re exempt from the barely helpful gesture.
And to make it even better, Walmart announced—on the same day—that they are closing five dozen Sam’s Club stores. In a statement, the company explained:
After a thorough review of our existing portfolio, we’ve decided to close a series of clubs and better align our locations with our strategy. Closing clubs is never easy and we’re committed to working with impacted members and associates through this transition.
Reportedly, thousands of employees are about to be fired, saving the company millions as they give other employees table scraps.
Good job, Republicans.