Wal-Mart workers prepare to strike
The company faces uncomfortable questions about how it treats employees ahead of the important holiday season.
It is under pressure from Wall Street to improve its lackluster sales ahead of the important holiday season. Wal-Mart, the country's largest private-sector employer, has battled efforts by unions to organize its workforce for years, and has filed a complaint with the National Labor Relations Board to stop the labor action aided by the United Food and Commercial Workers International. Media reports say that a decision by the NLRB isn't expected before Thursday's Thanksgiving holiday. Union-backed OUR Walmart, has fired back at the company, accusing it of "illegally attempting to deter workers from participating in strikes against the world's largest retailer on Friday," according to Reuters.
But even if it wins the latest battle, the Bentonville, Ark., company may lose the war over the long term as tries to protect its brand.
The company brags about its low prices. But many shoppers probably don't think much about how Wal-Mart makes this slogan a reality, which may start happening given the publicity the strike is getting. The average Wal-Mart associate earns about $8.81 an hour, or a yearly wage of about $15,500, meaning that hundreds of thousands of the company's workers live below the poverty line, according to unions.
Our Walmart is seeking wages of $13 per hour, and is calling on the company to make full-time jobs available for employees who want them. The company disputes these characterizations and says on its website that it offers "competitive wages, good benefits and the chance to grow and build a career."
States worried about the growing costs of Medicaid have pressued Wal-Mart for years to improve worker benefits. In response, the company offered some benefits to those working less than 24 hours per week, only to reverse course last year and decree that new part-time employees would no longer get benefits and that people working 24 hours to 33 hours a week can no longer include their spouses in their coverage, though children are allowed.
Data from unions indicates that Wal-Mart employees are the largest recipients of government assistance among those that are employed in a huge number of states. That means that taxpayers are on the hook for these benefits to the tune of more than $1 billion.
Though it's unlikely the strike will put a dent in Wal-Mart's profits, some customers may start to wonder whether the company's low prices are worth the costs born by its employees.
--Jonathan Berr does not own shares of the listed stocks. Story is updated to provide details on the possible timing of a strike. Follow him on Twitter @jdberr.
More from Top Stocks
These employees are NOT forced to work there.
This is a Walmart job, have you been there? Have you seen the job that most do? It is not the most strenuous job. Typical union opinion, pay a worker more than they should be paid for the job they do.
There is no end to the ignorance of Americans in this country's unions.
I have NEVER heard from a union puke " I AM HAPPY TO JUST HAVE A JOB".
These idiots NEVER learn, fire them all and hire Americans who want a job.
I have heard some of these wastes saying "I don't get paid enough", NOBODY FORCES YOU TO WORK THERE. Get a job somewhere else.
This is how I see it:
The Asian Outlet Center employees have 2 choices:
1) Work like a slave for a half-emply belly, or
2) Quit & live with a completely empty belly.
This country fought a war to end slavery....Walmart needs to remember this!
These Wal-Mart employees knowingly and willingly accepted a job that required employees to work holidays. The employees also knew that that included "Black Friday" 24 hours. Those that don't work as scheduled should be immediately terminated and barred from being re-hired under ANY circumstances. A company pays their employees a wage that the employee knows before their 1st day of work. They are informed about any benefits that are available, so they have absolutely no to complain. A company is created for the purpose of making a profit for those that took the risk to open the business. The owners should not and are required to give ANY PERCENTAGE OF PROFITS to their employees. These Wal-Mart employees are delusional if they start listening to the propaganda from their Organized Crime Syndicate known as a Union. They should learn from the Union representing the Bakers at Hostess that put 18,000+ jobs on the Unemployment Line. Anyone Company buying Hostess will not and is not "required" to hire Union Employees. I would take the Company to Mexico or Canada and tell the Unions to seek assistance from O'Bama to support the 18,000 they made unemployed.
I am a firm believer that a job is a job. Be grateful you have one and do what you need to do to keep it and possibly expand your skillset............
............On the other hand, I also believe that there is nothing more important than family. I come from a corporate mindset therefore I completely understand what Wal- Mart is coming from. But for God sakes, let them be with their families.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The Ukraine crisis festers and other fresh concerns boil to the surface, knocking down markets and giving volatility some life.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.