DragonI

Walmart employees are eligible for the $1,000 bonus only if they’ve worked at the company for 20 years. Most Walmart employees, of course, haven’t worked there that long. Those employees will receive a smaller bonus based on seniority. Walmart didn’t explain exactly how the sliding scale will work, but said the total value of the bonuses will be $400 million. Walmart has about 2.1 million employees, which works out to be an average bonus of about $190.

After Walmart’s flashy announcement of bonuses of up to $1,000 for some of its workers, the real story played out quietly.

On Wednesday, as news of the bonus announcement was lauded by Trump and Fox News.

• Walmart abruptly closed down 63 Sam’s Clubs stores. More than 9,000 people lost their jobs. 
• Some only learned about the decision when they showed up to work and found the doors locked.

On Friday, there was news of more pain for Walmart workers. 

• The company confirmed to Business Insider that about 3,500 “co-managers” will be laid off across the country. 
• They will be replaced by new, “assistant manager” positions, which would have a lower salary.
• The laid off workers will be able to “apply” for these new jobs. 

• WMT stock has gone up by $30 since January. Still no living wage. 🍰 Hmmm!
• MEET THE WALTONS: How America's wealthiest family spends its Walmart fortune, Business Insider July 2017