Until tonight I had not paid very much attention at all of the protests against Walmart by its employees. I now understand why those employees are so unhappy with their employer. Here are the facts. Check them if you like.
· Walmart is the nation’s largest private employer with 1.4 million employees.
· At over $446 Billion per year, Walmart is the third highest revenue-grossing corporation in the WORLD.
· Walmart’s net profits are $17.2 Billion per year.
· The Walton family owns 48 percent of the Walmart stock and at a net worth of over $102 Billion is one of the richest families in the WORLD.
· Walmart CEO Mike Duke’s compensation package in 2011 was $18.1 Million (equivalent to $8,701.92 PER HOUR).
· Walmart’s U.S employees make an average of $8.81 per hour, one-tenth of one percent or one-thousandth that of the CEO.
· Walmart employees receive $2.66 Billion a year in subsidized Medicaid, food stamps, housing, and other taxpayer-funded social welfare programs.
· Walmart’s failure to provide its employees with a livable wage or decent healthcare coverage is costing taxpayers an average of $1.02 Billion per year in healthcare costs.
· A single 300-worker Walmart “Supercenter” accounts for between $900,000 and $1.7 Million per year in taxpayer-funded benefits to its employees.
· As many as 80 percent of workers in Walmart stores use food stamps.
· The National Labor Relations Board Office of the General Counsel filed a complaint against Walmart on January 15, 2014 for retaliating against striking workers with illegal firings, disciplinary action, or threats of both which violated employee labor rights.
It will be extremely difficult, but I believe that I must join the boycott of Walmart until they change their ways.