A minimum wage of $12.55 an hour in Oakland, Calif. made Wal-Mart close 269 stores globally
No, but it is why “two Wal-Mart locations in Oakland’s neighboring city of San Leandro, where minimum wage is $10, will remain open.”
Wal-Mart closed stores nationwide that were losing money. Oakland jacking up their minimum wage is why that particular store was losing money.
Stores are ranked by region. They mind the details. Stuff damaged by shippers and suppliers is debited. Shrinkage (theft) is tracked daily. Wages are only part of the story. If a stores doesn’t perform, management is eyeballed and the location. There’s a store in WV that is only open from 6:00 am to 10:00 pm seven days a week. That store out performs every other store, even those much larger. in WV and half of Kentucky.
Walmart knows where its losses are coming from. They’re not a non-profit. The $2 pay raise announced over a year ago to be put into affect over two years is partly a cost saving measure. Walmart would rather retain employees instead of incurring the constant training expense associated with new employees.
In an era when it’s touch to find drug free employees, Walmart is doing what it can.
Apparently to some. The Chamber of Commerce arm of Free Republic thinks so.