Walmart Boosts Minimum Wage
Last week, one of the largest retailers in the world stated that it would begin paying all of its U.S. hourly workers at least $9 an hour by April, and $10 an hour by next February. The plan will result in raises for about 500,000 workers in the first half of the fiscal year and cost about $1 billion, according to a statement from the company.
The retailer has done this in an attempt to reduce turnover among its 1.3 million U.S. workers, which would in turn cut training costs and improve service at its 4,400 domestic stores. According to Walmart CEO Doug McMillon, the leadership teams are extremely focused on improving customer experiences through various investments and program initiatives, and have developed and tested new ideas to reward associates for serving customers.
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The retailer has done this in an attempt to reduce turnover among its 1.3 million U.S. workers, which would in turn cut training costs and improve service at its 4,400 domestic stores. According to Walmart CEO Doug McMillon, the leadership teams are extremely focused on improving customer experiences through various investments and program initiatives, and have developed and tested new ideas to reward associates for serving customers.
For the full story, click here.