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As part of Wal-Mart Stores Inc.’s additional $1 billion investment in its workers this year, the mega-retailer has introduced pay raises to employees. About 500,000 associates have received salary increases for the pay period starting April 4, with paychecks reflecting the raise to be issued on April 23. The associates now earn more than the federal minimum wage.
These pay hikes are the first since Bentonville, Ark.-based Walmart revealed in February its plan to provide more opportunity for its workers. Effective April 4, all Walmart associates are earning at least $9 per hour, and by February 2016, all current associates will earn a minimum of $10 per hour. Walmart is also raising the floor and ceiling of its in-store pay bands in most stores and giving raises to associates earning at the top of their pay band. Further, the company will raise the starting salary for some department manager roles to at least $13 an hour this summer and at least $15 an hour early next year.
Along with the wage increases, Walmart's Opportunity initiative will offer greater scheduling flexibility and control, and new training for further growth and advancement beyond entry-level positions. The company also plans comprehensive changes to its hiring practices and store structure.
Walmart operates 11,053 stores under 71 banners in 27 countries and e-commerce websites in 11 countries.