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Home / Business / Walmart's employee hourly wage will go beyond [$15] probably over time: CEO Doug McMillon

Walmart's employee hourly wage will go beyond [$15] probably over time: CEO Doug McMillon



<p class = "canvas-atom texttext Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Walmart ( WMT ) and many other big dealers have embraced the reality that hourly wages for their employees are likely to be on a sustained appearance. "data-response time =" 15 "> Walmart (WMT) and many other major dealers have embraced the reality that their employees' hourly wage is likely to be on a persistent upheaval.

Reason for that reality – which could shrink profits if

<p class = "canvas-atom crawler text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" ====== ================================================== ================================================== ======================================= working in a sweaty Amazon ( AMZN ) stock in the summer? And secondly, in-store workers have more tasks than ever – from picking items from shelves to serving online orders to checking out people in the middle of an aisle with a handheld device. "Data Reaktime =" 17 "> Retailers are increasingly supplying, and many choose gig economy jobs at Uber (UBER) and Lift (LYFT) as well. Who will work in a sweaty Amazon store (AMZN) this summer? Secondly, workers in the stores work with more tasks than ever – from picking items from shelves to serving electronic orders to checking people out in the middle of a midway with a handheld device.

It's a tireless gig nowadays.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "" Oh, it goes beyond that probably over time , Walmart CEO Doug McMillon told Yahoo Finance & nbsp; when asked about a $ 15 hour minimum wage was the new normal in retail. "" Oh, it's going to go beyond that probably over time, " told Walmart CEO Doug McMillon Yahoo Finance when asked for a minimum wage of 15 dolls ar was the new regular in retail.

One of the first things McMillon – who began working after the Walmart store as a teenager – did as CEO in 2014, was studying the impact of increasing the hourly wage for workers. In February 2015, Walmart made a decision to increase its minimum hourly wage to $ 10 an hour by 2016.

The company now offers an initial salary of $ 11 an hour.

"Around the country this year, we have continued to take our starting salary depending on the market," McMillon said.

Walmart also has 200 training academies (also opened on McMillons clock) that give workers new skills in areas such as product planning and technology. The company also pays cash bonuses to employees. In the fourth quarter, it made $ 207 million to its 912,000 US retail associations.

"We are going to offer the wage rate that allows us to attract and retain the talent we need, and think about this thing holistically, including the healthcare and all the other benefits," says McMillon. When it comes to owning Walmart shares, all this is important. We listen to our employees when it comes to where they want us to invest. "

Work to keep employees happy seems to pay dividends.

<p class =" canvas-atom canvas text Mb (Walmart said Thursday's first quarter and US same store increased by 3.4% The best result in nine years The same store sales at Walmart USA have increased by 3% or more in four straight quarters. "Data-response time =" 26 "> Walmart said Thursday's first quarter US same-store sales rose 3.4%, The best result in nine years The same store sales in Walmart USA have increased by 3% or more in four straight quarters

US division's operating profit increased by 5.5% in the quarter, a higher pace than 3.3% overall sales increase for business despite investments in employee compensation

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An We have since followed Walmart in the country with higher hourly wages.

<p class = "canvas -atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Target (] TGT ) CEO Brian Cornell & nbsp; told Yahoo Finance earlier this year & nbsp; it would raise hourly wages to $ 15 an hour by 2020 from about $ 12 currently. "Target (TGT) CEO Brian Cornell told Yahoo Finance earlier this year it would raise hourly wages to $ 15 an hour by 2020 from about $ 12 currently.

"$ 15 an hour makes us an employer of choice. While making a lot of major investments in stores, technology, fulfillment and brands, the most important investment we've made over the last couple of years is in our team," says Cornell.

Meanwhile, Amazon raised hourly wages to $ 15 an hour in October 2018 among criticisms there were underpaying workers.

<p class = "canvas-atom clay text Mb (1.0em) Mb (0) – sm Mt (0.8 em) – sm "type =" text "content =" Brian Sozzi is an editor-at-large and co-worker of & # 39; The First Trade & # 39; at Yahoo Finance. Brian Sozzi he on Twitter @BrianSozzi "data-reactid =" 33 "> Brian Sozzi is an editor who is large and contributes to & # 39; The First Trade on Yahoo Finance Follow Brian Sozzi on Twitter @BrianSozzi

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