News
Walmart Posts Increase in Shoppers, Announces Raises for 40% of Workforce
Walmart announced today that its first spike in shoppers in two years would lead to raises for 500K. or 40%, of the chain's employees. America's largest private employer will boost salaries at least $1.75 above the $7.25 per hour federal minimum wage, which the chain has been criticized for utilizing in the past. The pay bump to a minimum $9 an hour salary will take effect by April.
The world's largest retailer also said today that by this time next year its hourly workers will earn at least $10 per hour. The news follows Walmart's profits of $1.61 a share outperforming a Thompson Reuters forecast of $1.53. In more good news, the number of shoppers increased for the first time in two years, news Walmart attributed to lower gas prices.
