While the move is meant to silence critics who for years complained the retail giant didn’t pay an honest living wage, there are still critics who say the company’s $2.7 billion investment in “higher pay, and better training” has also lead to store closings, and cut hours.
ABC’s Ryan Burrow joined us from Chicago, IL.
From Walmart:
ORLANDO, Fla., March 10, 2016 – As part of the largest single-day, private-sector pay increase ever, more than 1.2 million Walmart and Sam’s Club associates in the U.S., including more than 93,000 in the state of Florida, will receive a pay raise in their March 10 paycheck. The increases are part of the company’s two-year, $2.7 billion investment in higher pay, better training, clearer career paths and additional educational opportunities for its workers.
Walmart associates are eligible for quarterly cash bonuses based on the performance of their store. For the full fiscal year, Walmart associates across the country earned more than $550 million in bonuses, including $65.1 million in Florida. In addition to the higher wages, the March 10 paycheck for eligible Florida associates will include a share of the more than $20.9 million bonus earned in the fourth quarter of the year alone.
“We’re proud to offer our associates competitive pay and benefits as well as the opportunity for advancement and more,” said Corbin Norman, regional general manager for Walmart in Central Florida. “This investment is just the latest example of our commitment to helping associates build a career here at Walmart.”
Walmart’s associate investment is about more than wages and benefits. It is designed to provide associates the skills, knowledge and tools they need to grow with the company and provide great customer service. The company is also creating new training programs, which will create clear career paths from entry-level positions to jobs with more responsibility and higher pay.