Walmart said on Thursday that it is raising salaries for approximately 425,000 employees to between $ 13 and $ 19 an hour after a good fourth quarter.
Why does it matter: The salary increase puts about half of all Walmart employees at $ 15 an hour or more, according to Yahoo Finance.
- The move to the country’s largest private employer comes as Congress debates whether to include a $ 15 minimum wage in the next round of stimulus. President Biden supports the increase.
- The average salary for Walmart workers will now reach $ 15.25 an hour. The company’s minimum wage is $ 11 an hour.
- Salary increases will take effect on March 13.
What they are saying: “We completed a strong year and a good fourth quarter thanks to our incredible associates. They prepared to serve our customers and members exceptionally well during a busy vacation in the midst of a pandemic,” said Walmart CEO Doug McMillon in a statement. .