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Walmart Enhances Average Salaries for Staff

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Walmart Enhances Average Salaries for Staff

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The ongoing topic of discussion in the current political landscape is the necessity of a nationwide increase in the federal minimum wage. Senators, primarily those leaning towards the left side, have been advocating for a uniform raise to a minimum wage of $15 per hour, but advancements in this area have been gradual. Despite the lack of a mandated change at the federal level, certain retailers are choosing to take action independently.

Retail giant Walmart disclosed its holiday season profits today, which notably fell short of expectations due primarily to challenges related to COVID-19. However, amidst this somewhat disappointing news, there was a more positive announcement: Walmart is boosting the average hourly wage of its employees to $15. This adjustment will result in a significant pay increase for at least 425,000 Walmart workers across the nation.

It’s important to note that while Walmart’s minimum hourly wage is not being increased to $15, the average is being raised. The company’s base wage will remain at $11 per hour, but the pay range is being broadened to between $13 and $19 hourly. This means that the majority of frontline employees will now be earning around $15 per hour based on various factors such as their role and tenure. This update will be effective starting March 13.

While other retailers like Target and Amazon have chosen a uniform wage hike, Walmart CEO Doug McMillon stated that the company is pursuing a different strategy. Hourly wages at Walmart differ depending on the location, making a uniform raise more challenging to implement. Nevertheless, he expressed optimism that Walmart can serve as a “path to growth,” highlighting that a significant number of Walmart managers began their careers as entry-level employees.

“We will gradually increase our starting wage, and our track record demonstrates that,” McMillon affirmed.

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