Walmart has descended to new depths of worker maltreatment with its latest decision to eliminate health benefits for 30,000 employees, citing rising health care costs.
Because Walmart is the epitome of selfishness and greed, or as they describe it, taken aback by the record number applying for benefits the company has decided to cut part-time employees off from health insurance if they work fewer than 30 hours a week rather than apply some of the company’s massive profits to ensuring employees will be covered.
This amounts to about 2 percent of the company’s workforce. As a way to further fleece employees, the company is increasing costs for those who remain eligible. The cheapest health care plan the company offers will increase from $3.50 to $21.90 per paycheck.
“This year, the expenses were significant and led us to make some tough decisions as we begin our annual enrollment,” Wal-Mart executive Sally Welborn said in a blog post.
Significant? Bill Bland writes
“Walmart has been struggling with an influx of 100,000 employees to its health insurance program, the total cost of which is expected to reach $500 million this year.
To put that number in perspective, Walmart’s net profits are expected to be $15.88 billion this year, and the Walton family — heir to the Walmart fortune — is worth a combined $143.6 billion.”
Thankfully, employees who have been thrown under the bus because of Walmart’s greed will still be eligible for subsidies on Obamacare exchanges. That’s right, America, Walmart is the nation’s largest welfare queen with a single store sticking taxpayers with a bill in excess of $900,000 for benefits for their employees earning poverty wages.