Starting in March, Walmart employees in the United States will receive an hourly wage increase. The minimum wage will rise from $14 to $19 an hour, and from $12 to $18 an hour, according to retail giants.
In a memo sent to all Walmart employees, the company’s president and CEO, John Farner, called for wage increases and workers to train and develop careers in the retail chain. announced a new opportunity for
Salaries for about 340,000 store employees will be increased. That equates to a pay raise of about 21% for his 1.6 million employees at Walmart.
In the memo, Farner said the investment in pay increases included “regular annual pay raises for our associates and an opening rate for thousands of stores to ensure attractive wages in the markets in which we operate. Targeted investments are included.We expect these price increases to bring the average U.S. hourly wage above $17.50, which will be reflected in salaries on March 2.”
Related article: Walmart pays 100% of college tuition and associates’ books
Similarly, Walmart improves the bottom line for employees who work at car care centers. The retail giant adds new degrees and college certificates to its Live Better U (LBU) education program to attract and retain workers.
“These new options are focused on the direction of our business and provide our employees with the skills they need to open up new career opportunities. You can join LBU from , paying 100% of the tuition and fees,” explained Furner.
We will also recruit more employees to become truck drivers. This job can earn up to $110,000 in the first year of employment.
CNBC reported that wage hikes have pushed Walmart’s average salary closer to the industry average, but still lags behind other major retailers.
Meanwhile, The Wall Street Journal reported that Walmart’s decision could lead to wage pressures in low-income areas where retailers are major employers. It concludes that dominance is an important determinant of wage levels, especially in local economies with a large presence in other retailers and grocery stores.
