Time: Walmart Shocked Employees By Closing Dozens of Sam’s Club Stores. Here’s What We Know

And how much richer will Walmart be in light of the new tax law the company is crediting as the big reason for raises and bonuses for workers? Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy, told the New York Times that based on Walmart’s earnings over the past five years, the corporate tax cut would save the company an estimated $2.2 billion annually.

“The figure could be higher or lower depending on tax breaks the company might be losing, or new advantages in the treatment of capital investments and other provisions,” the Times reported. Read more