What they giveth with one hand they taketh with the other
Today Walmart trumpeted the big tax giveaway with rising wages and bonuses. They even gave new working parents 6-10 weeks maternity leave. However, what they’ve also slipped through under the radar of good news, was that they are sudenly closing 63 Sam’s Club stores across America at the loss of thousands of jobs. While the tax giveaway starts 1st Feb the Sam’s closures aree immediate for many. According to Buisiness Insider, many employees weren’t informed ahead of the decision, and only found out when arriving at stores to find them locked up.
From the sites, 10 will be turned into distribution centres and Sam’s workers will be able to reapply for jobs in those.
While companies across America jump on the tax bandwagon and get good press for offering bonuses and wage rises, it’s what we don’t hear about that’s probably paying for it. We’d be absolute suckers to think that big companies like Walmart will just hand over all these extra tax savings without making good themselves somewhere else in the accounts. While it is good news for those workers receiving wage rises and bonuses, I can’t help be skeptical that a lot of this is just one big publicity stunt.
Ryan Littlestone
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
Latest posts by Ryan Littlestone (see all)
- Forex options expiries 22 August 2019 - August 22, 2019
- A trader’s view: MXN – Indices – Metals - August 21, 2019
- Big EURJPY expiry pops up out of nowhere – Forex options expiries 21 August 2019 - August 21, 2019