Walmart to raise minimum wage for store employees to $14 an hour

Walmart will raise the minimum wage for store employees from $12 to $14 an hour, CEO John Ferner said in a memo posted Tuesday on the company’s website. EPA-EFE/Michael Reynolds

January 24 (UPI) — Retail giant Walmart will raise the minimum wage for its employees to $14 an hour, according to an announcement by CEO John Ferner posted on the company’s website Tuesday.

“From next month, we will begin investing in increasing the salaries of employees,” the text of the document says. a note from Ferner. “We expect these increases to push our average U.S. hourly wage to over $17.50. They will be reflected in paychecks on March 2.”

The wage increase is expected to affect about 340,000 employees.

Store employees currently do $12 to $18 an hour at Walmart stores, and that increase means they’ll be making $14 to $19 an hour by March.

Walmart will also expand opportunities for employees using the Live Better U program, which offers funding for employee training.

“We are adding new college degrees and certificates to our Live Better U (LBU) education program. These new options are focused on where our business is heading and equip employees with the skills to unlock new career opportunities,” Ferner said in a memo. .

The pay increase comes as many companies in the tech industry, including online retail giant Amazon, are laying off employees due to falling productivity.

Walmart still has tens of thousands of job listings in open stores. Web site.

Walmart is the largest private employer in the US with 1.7 million employees, 94% of whom work hourly.

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