One of the big local wage abusers, that are the focus of Measure R in Eureka, is Wal-Mart. Just read this Reuters story and just see how despicable this filthy rich Walton family is. These are the Oligarchs that Matthew Owen and John Fullerton are trying to protect in their scurrilous anti-R ad campaign. Funded with at least 10,000 in dark money.
This year Rob, Jim and Alice Walton are projected to receive an estimated $3.16 Billion dollars in dividends from their inherited shares of Wal-Mart. If they were actually working for an hourly wage, that would work out to $1.5 million dollars an hour. The average Wal-Mart employee earns $8.81 per hour.
(Reuters) – Wal-Mart Stores Inc, the biggest U.S. private sector employer, said on Tuesday that its 1.3 million workers would have to pay more for healthcare and it would end benefits for some part-time staff in a move that could prompt other companies to follow suit.
The world’s largest retailer said it would raise health insurance premiums for its entire U.S. workforce beginning in January. In addition, Wal-Mart will end coverage for employees who work fewer than 30 hours a week, a change that will impact 2 percent of U.S. workers, or about 30,000 people.
The move comes as U.S. companies brace for a January 2015 deadline under the Affordable Care Act. Starting then, companies with 50 or more employees will have to offer health insurance to those working at least 30 hours a week, a mandate that has drawn criticism from some companies worried about higher costs. (Cutting into their massive profits)
Wal-Mart said the move would bring it in line with many of its competitors. Target Corp and Home Depot Inc recently announced cuts to benefits in light of the Affordable Care Act.
According to consulting firm Mercer, 62 percent of large retailers did not offer health-care benefits to part-time workers as of 2013, a comparatively high rate that reflects low wages and high turnover in the industry. That figure drops to 37 percent for companies overall.
Brian Yarbrough, an analyst at Edward Jones, said the decision by Wal-Mart could force other retailers to rethink what benefits they provide.
All retailers are “trying to cut expenses, to keep things lean,” Yarbrough said. “At some point you start looking across the board, and this is probably the next place to start looking at cuts.”
Some big retailers, such as coffee chain Starbucks Corp and Costco offer health coverage to part-time employees.
Critics of Wal-Mart’s decision said it would primarily hurt lower-income workers, many of whom are being left behind in the economic recovery.
“Taking away access to healthcare, even though many of my co-workers couldn’t afford it anyway, is just another example of Walmart manipulating the system to keep workers like me in a state of financial crisis,” Nancy Reynolds, a cashier at a Wal-Mart in Florida and member of Our Walmart, a group pushing for better wages and benefits, said in an email from the group.
Of Wal-Mart’s 1.3 million U.S. employees, the company said 1.2 million currently elect to be covered under the company’s health insurance plans.
The company said it was changing some eligibility terms for part-time employees working more than 30 hours a week, but did not provide details.
Full story here:
And just to add more misery to the situation: