Retail

Walmart hikes hourly pay by $1 for over 550,000 workers

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Florida, Miami, Walmart discount department store, check out lines.

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Walmart said Thursday that it is raising the hourly wages for more than 565,000 store workers by at least $1, as the retail industry faces a tight labor market going into the holiday shopping season.

Walmart U.S. Chief Executive John Furner said in a memo to staff that this marks the third investment the company has made in salaries in the past year. Walmart’s U.S. average hourly wage is now $16.40, he said.

According to Furner, employees who work on the front end of Walmart stores and in its food and consumable department and general merchandise department will receive…



Source cnbc.com

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