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Walmart uses lower U.S. tax bill to raise minimum wage to $11 an hour

Reuters  |  NEW YORK 

By Nandita BoseNEW YORK (Reuters) - Walmart Stores Inc said on Thursday it would raise entry-level wages for hourly employees to $11 an hour as it benefits from the biggest overhaul of the U.S. tax code in 30 years.The world's largest retailer said the increase would take effect in February and that it would also expand maternity and parental leave benefits and offer a one-time cash bonus, based on length of service, of up to $1,000.The pay increase and bonus will benefit more than 1 million U.S. hourly workers, it said.Walmart's announcement follows companies like AT&T Inc, Wells Fargo & Co ...

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First Published: Thu, January 11 2018. 19:36 IST