Originally Posted by
Sum Ting Wong
Last year Walmart profited 11.3 billion! Wow, that's a lot of money!
That is from 10,500 stores world wide! Wow, that's a lot of stores!
That's 10.77 Million dollars profit per store. Wow, That is a lot of profit!
Walmart has 1,530,000 employees 600,000 of those are new each year so more than 1/3 of the employees have less than 12 months on the job. That's still a bunch of employees!
Walmart profited $738.56 off of each employee last year. That is just $61.55 per month, per employee. Not so much huh?
To increase benefits to employees by $1,000.00 per year, that is just $83.33 per month each, and keep these profit margins Walmart would have to lay off 25% of it's employees - that is 382,500 people losing their jobs.
The people that would be hurt the hardest would be new hires. Or Walmart could just close their doors. and put 1.53 million people out of work, for lack of profit.
Now that would be social justice!
Assuming a 2% rate of return on investments, the Walton family makes 2.894 billion dollars in income, annually. You could increase benefits to each employee in a sustainable way by about 1,900 bucks (around 15%) just by writing checks. Cut that to your 1000 dollars in your example, and you'd still have an annual personal income of 1.4 billion.