The American multinational retail corporation, Walmart, has decided to give a pay raise to their employees. Starting in April, 500,000 full-time and part-time employees will receive $1.75 above federal wage. It does not stop there, by next February employees should receive at least $10 an hour.
According to CNN Money, the corporate states only about 6,000 Walmart employees out of more than 1.2 million nationwide are paid at the $7.25 an hour federal minimum wage.
Not only is Walmart increasing employees wages, but are letting their workers have more control over their own schedules, as well as giving more training to entry-level workers. The investment in training will give the entry-level workers an ability to be promoted.
The various changes to work conditions will cost Walmart about $1 billion in this fiscal year, which is needed after the numerous protests in November surrounding Black Friday a huge money grosser for the corporation.
“We are so proud that by standing together we won raises for 500,000 Walmart workers, whose families desperately need better pay and regular hours from the company,” said Emily Wells, a leader of the labor group OUR Walmart told CNN Money.
CEO Marissa Mayer, a member of the Walmart board, agreed over Twitter where she states she was “so happy for Walmart associates and proud of Walmart management. A great leadership decision by [Walmart CEO] Doug McMillon.”
See the CNN Money video athttp://money.cnn.com/video/news/2015/02/19/walmart-minimum-wage.cnnmoney/index.html