Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

Walmart workers are getting raises

by January 24, 2024
January 24, 2024
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
0
FacebookTwitterGoogle +Pinterest
previous post
Netflix to stream WWE’s ‘Raw’ starting next year in its biggest jump into live entertainment
next post
10 Largest Producers of Gold by Country

Related Posts

Amazon AI scammers duped investors out of millions...

March 20, 2025

Joann Fabrics and Crafts files for Chapter 11...

March 20, 2024

Spirit Airlines gets rid of change and cancellation...

May 22, 2024

Nearly 10,000 people have offered to change their...

August 9, 2023

Six months after ‘zero Covid,’ U.S. firms in...

June 12, 2023

Average credit card balances jump 10% to a...

February 9, 2024

Oil prices rise more than 1% as Israel...

June 21, 2025

S&P downgrades multiple U.S. banks on growing liquidity...

August 23, 2023

More signs of slowing inflation may arrive in...

December 13, 2023

Here’s where rents are rising — and where...

May 22, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

    • Presenting on Emerging Growth Conference 87 Day 2 on October 23; Register to live stream

    • CHARBONE annonce la reception des principales composantes sur le site de Sorel-Tracy et le lancement des travaux civils

    • CHARBONE Announces the Reception of the Main Components at the Sorel-Tracy Site and the Launch of Civil Works

    • Allied Critical Metals Drills 10.0 Metres of 1.11% Tungstenat Borralha

    • Canadian Investment Regulatory Organization Trade Resumption – WHY

    Categories

    • Business (1,401)
    • Investing (3,057)
    • Politics (3,699)
    • Stocks (1,827)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.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 © 2025 moneycontrolplace.com | All Rights Reserved