Walmart Declares Wage Hike for 500,000 Workers in the US
Published By : 23 Feb 2015 |Published By : QYRESEARCH
News has it that one of the major retail giants of the United States, Walmart has plans of increasing the wages of almost 500000 employees in most of its outlets in the U.S. The wage hike only pertains to the employees working on an hourly basis. Walmart intends on increasing the salaries of 40% of the total staff and the retail giant will also be raising the base per hour wage toUS$9, which is about US$1.75 more than the minimum basic. By February 1 2016, it is anticipated that the current employees on the minimum will earn an amount of US$10 an hour.
Walmart has been facing quite a lot of pressure from several labor groups lately. Doug McMillon, chief executive, Walmart recently stated that recent changes brought about by the company can be attributed to a challenging economic environment coupled with changing consumer preferences. The main reason why this was done was in order to ensure that the levels of efficiency and productivity are at their highest. Walmart also made it quite clear to its current workers that the very first thing on its priority list for the year is higher investment with regard to its employees and workers. Walmart shares plunged by about 2.8%.
For more than two years now, some of the traditional labor unions in the United States have been resorting to 1 day strikes with a demand for hike in wages and also improvements in its workers’ schedules. An eminent employee of Walmart expressed that it was a matter of pride that the employees were able to convince the retail giant of a wage hike for 500000 employees whose families are in desperate need for better salaries and better working hours. The company also has plans of investing in programs for training its workers.