Walmart raises minimum wage to $11/ hour in wake of U.S.tax law

Walmart Stores Inc said on Thursday it would raise entry-level wages for hourly employees to $11 an hour as it benefits from the biggest overhaul of the U.S. tax code in 30 years.

The world's largest retailer said the increase would take effect in February and that it would also expand maternity and parental leave benefits and offer a one-time cash bonus of up to $1,000. The increase will benefit more than 1 million U.S. hourly workers.

The company raised its minimum wage to $9 an hour in 2015. In 2016, it said employees who finished an internal training programme would be eligible for $10 an hour.