Yet despite the retail behemoth’s growing financial prosperity, which greatly benefits the company’s shareholders, executives and especially the Walton family, the company has now decided that poverty wages are not bad enough for its employees. It will also cut their benefits. Walmart just announced that it will both be cutting health care coverage altogether for 30,000 part-time employees (about 2 percent of its workforce) while increasing the premiums paid by its other employees .... http://www.alternet.org
Thursday, October 09, 2014
As Walmart’s Sales Increase, It Decides to Cut Healthcare for 30,000 Employees
For “the fiscal year ended January 31, 2014, Walmart increased net sales by 1.6% to $473.1 billion and returned $12.8 billion to shareholders through dividends and share repurchases. Walmart ranked first on the 2014 Fortune 500 list of “the world’s largest companies by revenue.”
Yet despite the retail behemoth’s growing financial prosperity, which greatly benefits the company’s shareholders, executives and especially the Walton family, the company has now decided that poverty wages are not bad enough for its employees. It will also cut their benefits. Walmart just announced that it will both be cutting health care coverage altogether for 30,000 part-time employees (about 2 percent of its workforce) while increasing the premiums paid by its other employees .... http://www.alternet.org
Yet despite the retail behemoth’s growing financial prosperity, which greatly benefits the company’s shareholders, executives and especially the Walton family, the company has now decided that poverty wages are not bad enough for its employees. It will also cut their benefits. Walmart just announced that it will both be cutting health care coverage altogether for 30,000 part-time employees (about 2 percent of its workforce) while increasing the premiums paid by its other employees .... http://www.alternet.org
