Walmart raises minimum wage to $11/ hour in wake of law

NEW YORK, Jan 11 (Reuters) - 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 program would be eligible for $10 an hour. (Reporting by Nandita Bose; Editing by Lisa Von Ahn)