...and I'm NOT talking prices either!!!
I just heard, from a former employee, that Wal Mart is going to phase out profit sharing. Well, not completely. If an employee wants to put some money in a 401k, Wal Mart will match some of the funds. But they are not going to automatically start a 401k, or retirement fund for an employee, as they had in the past.
Since the majority of Wal Mart employees live from paycheck to paycheck, they surely won't be putting much, if any money, in a 401k. So any retirement will probably be in the form of social security, which has it own limitations. Wal Mart saves billions!
Not exactly the way Sam saw it. Again, memories of one of Sam's tenets fades fast! He wanted to "share the wealth" with the employees. When Wal Mart first went public (i.e. traded on the NYSE) and you were employed at the time, your retirement benefits became huge. Wal Mart shares split several times, and people were retiring millionaires!! Now the only millionaires are the CEO, CFO, COO, and other "titled" people. And they get those millions, and millions more, year after year after year...
Wal Mart used to give out merit raises too. Now they're loathe to pay minimum wage, and they've capped the salaries of the employees! Therefore, if you work there long enough, you may never get another raise! Now there's incentive! NOT!
Of course they will say "You can always opt for management." Oh sure, everyone who walks through the doors is management material and/or wants that headache.
Oh yeah, they do community service; thay say they want to be environmentally friendly; they don't want to go where they're not wanted (remember that battlefield in Virginia?) etc, etc. They talk the talk, but do they really walk the walk?
I'm taking more and more of my business elsewhere. Other stores are becoming more and more competitive, AND they have better customer service, because they have MORE PEOPLE WORKING at any given time. Ever notice how you can walk all through a Wal Mart and not find someone to give you a hand?
True, no one's forced to work at Wal Mart. And as long as they have the kind of turnover, which correlates to cheaper wages (i.e. no raises), and/or quality of help they seem to be leaning towards, they can continue their quest to conquer the consumer world, but not with all my dollars any more, and hopefully fewer of yours...on this Day 82!
I just heard, from a former employee, that Wal Mart is going to phase out profit sharing. Well, not completely. If an employee wants to put some money in a 401k, Wal Mart will match some of the funds. But they are not going to automatically start a 401k, or retirement fund for an employee, as they had in the past.
Since the majority of Wal Mart employees live from paycheck to paycheck, they surely won't be putting much, if any money, in a 401k. So any retirement will probably be in the form of social security, which has it own limitations. Wal Mart saves billions!
Not exactly the way Sam saw it. Again, memories of one of Sam's tenets fades fast! He wanted to "share the wealth" with the employees. When Wal Mart first went public (i.e. traded on the NYSE) and you were employed at the time, your retirement benefits became huge. Wal Mart shares split several times, and people were retiring millionaires!! Now the only millionaires are the CEO, CFO, COO, and other "titled" people. And they get those millions, and millions more, year after year after year...
Wal Mart used to give out merit raises too. Now they're loathe to pay minimum wage, and they've capped the salaries of the employees! Therefore, if you work there long enough, you may never get another raise! Now there's incentive! NOT!
Of course they will say "You can always opt for management." Oh sure, everyone who walks through the doors is management material and/or wants that headache.
Oh yeah, they do community service; thay say they want to be environmentally friendly; they don't want to go where they're not wanted (remember that battlefield in Virginia?) etc, etc. They talk the talk, but do they really walk the walk?
I'm taking more and more of my business elsewhere. Other stores are becoming more and more competitive, AND they have better customer service, because they have MORE PEOPLE WORKING at any given time. Ever notice how you can walk all through a Wal Mart and not find someone to give you a hand?
True, no one's forced to work at Wal Mart. And as long as they have the kind of turnover, which correlates to cheaper wages (i.e. no raises), and/or quality of help they seem to be leaning towards, they can continue their quest to conquer the consumer world, but not with all my dollars any more, and hopefully fewer of yours...on this Day 82!
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