Florida, Miami, Walmart discount stores, check out the lines.
Jeff Greenberg | Universal Images Group | Getty Images
Walmart said Thursday it is raising hourly wages by more than 565,000 store workers by at least $ 1 as the retail industry faces a tight labor market that reaches the holiday shopping season.
Walmart U.S. chief executive John Furner said in a note to staff that this is the third investment the company has made in salaries in the past year. Walmart’s average U.S. hourly wage is now $ 16.40, he said.
According to Furner, employees who work at the front of Walmart stores and their food and consumables department and their general merchandise department will receive the highest salaries, which will take effect Sept. 25.
Earlier in the week, Walmart announced plans to hire 20,000 workers for its supply chain as it increases the holidays and prepares for more people to shop online. In July, he said he would pay 100% of college tuition and books for employees.
The country’s largest private employer is sweetening its benefits as companies face fierce competition for workers amid ongoing Covid-19 outbreaks.
Other retailers have announced similar benefits and changes in recent months. Among them, Target launched its own debt-free college program. CVS Health and Walgreens Boots Alliance said they would increase starting salaries to $ 15 per hour in the coming months, and CVS said it would reduce education requirements for incoming jobs.
– CNBC Melissa Repko has contributed to this report.