Connect with us

Hi, what are you looking for?

Business

Walmart workers are getting raises

Workers at America’s largest private employer will soon be getting raises.

Walmart announced last week that the average salary for store managers will go from $117,000 to $128,000 a year — a 9.4% increase. They will also be eligible for bonuses up to 200% of base salary, based on individual store sales and profit.

A spokesperson for Walmart told NBC News in an email that there are approximately 4,700 Walmart stores in the U.S., and that each store has a store manager.

Walmart said about 75% of its field management teams began their Walmart careers as hourly workers. 

‘Not only are you responsible for exceeding customer expectations day in and day out; each of you is the CEO of a multimillion-dollar business,’ Cedric Clark, executive vice president for Walmart U.S. store operations said in a release announcing the pay raise. ‘And you’re the driving force behind the development of our next generation of leaders.’

Walmart also announced that planned pay increases going into effect in February will see the U.S. average hourly wage for Walmart’s approximately 1 million hourly workers climb to more than $18.00 — up from $17.50 last year.

In a December appearance on CNBC, Walmart CEO Doug McMillon noted prices were dropping across a host of categories. That, he said, is creating an ambiguous sales outlook for Walmart in the first part of 2024 amid signs that while economic growth will likely slow this year, consumer spending has been holding firm.

“If we had been talking last spring or at the beginning of last year, I expected more softness by this time of the year than we’re actually experiencing,” McMillon said, referring to the end of 2023. But, he added, “next year’s a different story.”

“It’s going to be interesting to watch what happens in the general merchandise categories in the year ahead, because prices are so much lower,” McMillon said.

This post appeared first on NBC NEWS

    You May Also Like

    Sports

    The 2023 NTT IndyCar season kicks off this weekend in Florida following an offseason of change in the paddock. Eight full-time IndyCar drivers —...

    Sports

    Four division titles — AFC East, NFC East, AFC South and NFC South — will be decided in NFL Week 18. In all, 11...

    Sports

    Kalen DeBoer says Nick Saban will retain ‘100% access’ to Alabama football program, with DeBoer’s blessingNick Saban wasn’t over Kalen DeBoer’s shoulder at introductory...

    Sports

    The Kansas City Chiefs and Miami Dolphins have weathered various storms throughout the regular season, from injuries to inconsistent play, but on Saturday, both...

    Disclaimer: hotopportunitynow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023 hotopportunitynow.com | All Rights Reserved