The guys got the wrong numbers, Walmart employees 1.3 Million americans.. if you assume the 16 Billion is JUST for the US profits, its not $20k an employee... in fact I just ran its total revenues over profits and it earns 3 cents per dollar.
If those 16 Billion represent world wide profits, the total number of employees is 2.1 Million... so the profit per employee is close to 1/3 of what you calculated.. about 6-7k a year.
Excellent! I was using the article’s numbers, but you made my point even better. $6-7k more per employee per year is even less after taxes. I’m not saying that’s an insignificant increase in pay. It might mean a lot to employees who are barely scraping by, but it would also likely make Walmart less competitive. That often leads to lower profits and fewer jobs.
Thanks again!