BeeSting Alergy
2015-08-01 07:40:21 UTC
http://bit.ly/1SR7EW0
Earlier this year, Walmart raised the starting wage for more than
100,000 of its employees. This move reportedly cost at least $1 billion
to implement, though the long-term costs could potentially be far worse.
For instance, recent reporting by the Arkansas Democrat-Gazette
revealed that Walmart plans to soon lay off 1000 employees at its home
office in Bentonville.
This revelation comes only months after Walmart simultaneously shut
down five stores across the nation for alleged plumbing problems,
thus putting 2,500 employees in an extraordinarily precarious
predicament.
Heres the thing. According to Zero Hedge contributor Tyler Durden,
reporters determined that no plumbing permits had been filed in any of
the locales where the shuttered stores were located.
Durden suspected that the real reason for the shutdowns was to cut
costs.
By choosing to boost the living standards of its employees by the
smallest of fractions, argued Durden, Walmart crippled the cost and
wage structure of the entire ecosystem of individual stores that feed
into it, which in turn led to a tidal wave of layoffs for said
stores.
For a more detailed explanation of this phenomenon, check the video:
When either government or businesses raise minimum wage, it skyrockets
costs. To compensate, businesses then layoff workers.
So yes, some workers wind up with a more livable wage, but at the cost
of a bunch of other workers winding up with NO WAGE at all!
It is a frustrating effect, but it is part of economics 101 a class
that minimum-wage-championing liberals really ought to take!
----------
Just so you know.
Earlier this year, Walmart raised the starting wage for more than
100,000 of its employees. This move reportedly cost at least $1 billion
to implement, though the long-term costs could potentially be far worse.
For instance, recent reporting by the Arkansas Democrat-Gazette
revealed that Walmart plans to soon lay off 1000 employees at its home
office in Bentonville.
This revelation comes only months after Walmart simultaneously shut
down five stores across the nation for alleged plumbing problems,
thus putting 2,500 employees in an extraordinarily precarious
predicament.
Heres the thing. According to Zero Hedge contributor Tyler Durden,
reporters determined that no plumbing permits had been filed in any of
the locales where the shuttered stores were located.
Durden suspected that the real reason for the shutdowns was to cut
costs.
By choosing to boost the living standards of its employees by the
smallest of fractions, argued Durden, Walmart crippled the cost and
wage structure of the entire ecosystem of individual stores that feed
into it, which in turn led to a tidal wave of layoffs for said
stores.
For a more detailed explanation of this phenomenon, check the video:
When either government or businesses raise minimum wage, it skyrockets
costs. To compensate, businesses then layoff workers.
So yes, some workers wind up with a more livable wage, but at the cost
of a bunch of other workers winding up with NO WAGE at all!
It is a frustrating effect, but it is part of economics 101 a class
that minimum-wage-championing liberals really ought to take!
----------
Just so you know.
