Thursday, May 03, 2007

Two Classes of Wal-Mart

During the last decades, Wal-Mart has become quite the enterprise within the United States. With its high volume of goods at competitive low prices, it has made life easy for the low to middle class individual. Above all that, it has also became the largest employer in the United States. They are said to have people waiting in line for there jobs. For great benefits, salaries, 401k plans, etc. But is this really true, is Wal-Mart a great employer? I think not. In a recent study,"Wal-Mart said it gave $667 million to 815,629 hourly employees who participated in the company’s profit sharing and 401(k) retirement program — or, on average, $818 for each worker,it spent $51.4 million on 706,389 hourly employees who participated in its stock purchase plan — an average of $72.76 per worker and it offered $397 million in savings on merchandise to employees through a 10 percent discount — an average of $294 per worker." How much were the executives given? "Top executives stock options were valued between $1 million and $5 million, and an average 401(k) contribution of $8,400 per year." So my question is, is Wal-Mart there for the little man like it pitches, or there for the big whigs?

1 comment:

David Bright said...

From seeing the numbers it seems that they are there for the big whigs. But how do they stack comparitively to others in the industry? Usually we see in the news where executive tend to make more money and attain a higher amount of benefits. Also how many executives earn the high salary and benefits? Without knowing what other retail businesses pay their employees Im not really sure if they are taking advantage of there employees or not.