Walmart Makes Huge Announcement for Over Half Million Workers, Shares to Experience a Rise
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If someone has any doubts that COVID-19 has given any kind of right to companies to pay workers whatever they want, then they must observe Walmart. The recent announcement made by Walmart shows that when it comes to salary demands, it is the workers that can demand raises in their salaries.
The announcement made by Walmart shows that it is the workers who are commanding the salary system and not the employers. Walmart has recently made an announcement that is going to bring joy to over half a million workers.
Walmart has announced that it is giving a salary raise to a large number of its workers. According to the announcement, over 565,000 workers will be given a raise in their salaries by the retail giant.
The announcement in regards to the rise in salaries of the workers was made by John Furner, the CEO, and president of Walmart US. The inside sources have revealed that Fuhrer made the announcement for the workers through a memo.
In the memo, Fuhrer added that they will be adding at least $1 to the hourly wage that the workers at Walmart currently make. He also confirmed that the workers at the departments such as general merchandise, food, and store units, will be getting the rise.
In the memo, Fuhrer also added that this is not the first raise that Walmart had given its employees in the past 12 months. He noted that it was the 3rd raise they had given in the last 12 months.
Furhrer also revealed that in the last 12 months, they have increased their average hourly wage all the way up to $16.40 per hour for US-based workers.
This means that Walmart is doing whatever it can to remain the biggest retail chain supermarket in the market. It is now ahead of all other retail supermarkets currently operating in the United States. According to stats, it has even surpassed CVS, which is the drug store giant in the United States.
Prior to Walmart’s lead, it was CVS that was paying the highest wages to their employees on an average basis. The data shows that CVS was reportedly paying $15 per hour as an average to its workers.
It has been a while since the Congress members have been putting a lot of stress over the implementation of minimum $15 wage in the country for workers.
Even if the update is now implemented, Walmart employees would already be making higher than $15 per hour. With this change in their strategy, Walmart will now be able to observe a significant rise in its share prices.
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