Walmart to Raise Employee Wages
Walmart has announced plans to raise the wages of a half a million employees. The announcement came as Walmart announced a $5 billion profit for the quarter.
Under the terms of the plan, hourly associates will earn $1.75 above today's federal minimum wage, with current associates earning at least $10 per hour by Feb. 1, 2016.
"Today, we announced comprehensive changes to our hiring, training, compensation and scheduling programs, as well as to our store management structure. These changes will give our U.S. associates the opportunity to earn higher pay and advance in their careers," Walmart Stores CEO Doug McMillon said as part of the earning release.