Audio will be available later today.
Sam's Club, a unit of Wal-Mart Stores Inc., closed a series of stores following a review, the membership-only store chain said in a tweet on Thursday.
The store is closed right now and people are being turned away at the entrance. American Airlines and AT&T, among others, have announced $1,000 bonuses for employees, citing the tax overhaul.
Assuming a 40-hour work week, the $300 million increase the company expects in its wage bill would suggest fewer than one in 10 US staff will benefit directly.
"It's convenient, you know", said Sonya Thomas, a Sam's Club member who tried shopping at the Madison location on Thursday. The national unemployment rate at a 17-year low, making it increasingly hard to for companies to attract - and keep - workers.
Walmart representatives did not respond to a question about the timing of the dual developments.
"The fact is that Walmart is not permanently investing the estimated $2 billion it will receive annually from Trump's tax giveaway to its workers - it is keeping nearly all of it", Parraz said. Walmart is also adding paid parental leave for new fathers, adoptive parents, non-birthing mothers, and foster parents.
With about 175 employees per location, that would translate into some 11,025 people affected by the move. In 2015, Walmart raised its minimum hourly wage to $9, and in 2016 to $10 for workers who complete a training course.
Walmart, the nation's largest private employer, said it would record a 14-cent-per-share charge to its earnings as a result of the changes.
Emeraid Gems earns $11 an hour now after seven years at Walmart. "I used to get gas here".
Raising the starting wage would cost about $300 million and the bonuses will total about $400 million, Walmart said.
The retailer announced in a news release that because of the money saved through the recently-passed tax reform, eligible full and part-time hourly associates will receive a one-time cash bonus based on years of service. "The company is on track for about $12 billion in net income this year, so it will take about nine days of profit to recoup the extra spending", the report stated.
It joins dozens of other companies including American Airlines, AT&T and Bank of America that have announced $1,000 worker payouts following the passage of the Republican tax plan that slashed the corporate tax rate from 35 percent to 21 percent.