Sarbanes-Oxely

A Substantial Number of Wal-Mart Associates earn far below the poverty line

In 2001, the last year for which Wal-Mart has released figures for most occupations, sales associates, the most common job in Wal-Mart, earned on average $8.23 an hour for annual wages of $13,861.The 2001 poverty line for a family of three was $14,630. ["Is Wal-Mart Too Powerful?", Business Week, 10/6/03 and US Dept of Health and Human Services 2001 Poverty Guidelines, 2001]
A 2003 wage analysis reported that cashiers, the second most common job, earn approximately $7.92 per hour and work 29 hours a week. This brings in annual wages of only $11,948. ["Statistical Analysis of Gender Patterns in Wal-Mart's Workforce", Dr. Richard Drogin 2003]"
Wal-Mart Associates don't earn enough to support a family

The national median family budget in the United States for a two-person family (one parent and one child) in 1999 was $23,705, well above the average associate's annual wages of $13,861. ["Poverty and Family Budgets" online at www.epinet.org]
Wal-Mart can afford wage increases

Wal-Mart can cover the cost of a dollar an hour wage increase by raising prices a half penny per dollar. For instance, a $2.00 pair of socks would then cost $2.01. This minimal increase would annually add up to $1,800 for each employee. [Analysis of Wal-Mart Annual Report 2005]
Wal-Mart forces employees to work off-the-clock

As of the printing of their 2005 Annual Report, Wal-Mart faced 44 wage and hour lawsuits. Major law-suits have either been won or are working their way through the legal process in states such as California, Indiana, Minnesota, New Jersey, Oregon, and Washington. [Wal-Mart Annual Report 2005]
Wal-Mart was recently ordered by courts to pay up to 120 workers ...
Word (s) : 4017
Pages (s) : 17
View (s) : 516
Rank : 0
   
Report this paper
Please login to view the full paper