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Walmart announced Thursday that it will boost pay for 165,000 of its hourly associates nationwide this October.
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The boost in pay will replace the annual increase employees normally receive in February or April, Walmart Chief Operating Officer Dacona Smith said.
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"When we’ve asked associates, the overwhelming majority say their hourly wages are the most important part of their pay, well ahead of quarterly bonuses," Smith said in Thursday's announcement.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 136.69 | +0.43 | +0.32% |
The impacted roles include:
- Current salaried digital, asset protection and auto care center assistant manager roles in the store.
- Hourly team lead roles: These employees will receive new wages start between $18 and $21 an hour, but can go up to $30 an hour in Supercenters.
- Hourly associates in the deli and bakery areas: These employees will receive a minimum increase of $11 an hour to $15 or higher.
- Several hourly auto care center roles: Most associates in these roles will receive a base pay increase of $1 or more per hour.
This increase will also take the place of their regular quarterly bonus, according to Walmart. Instead, it will become part of their base pay going forward, "offering more predictability and more pay in their hourly wages."
However, the associates will continue to be eligible to receive quarterly bonuses through the end of the year, the company said.
In its latest announcement, Walmart also said that it would introduce a "team-based operating model" across its Supercenters, similar to the one used at Sam's Clubs.
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"As we’ve tested this team approach, associates have gravitated to the connection and camaraderie that come with being part of a small team that supports each other and works together toward shared goals," the company said.
Employees will be able to continue working at Walmart, regardless of whether they are selected for one of the new roles. Employees can remain in their current role or will be offered a similar position and will keep the same pay through at least October 2021, Walmart said.
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September 18, 2020 at 02:52AM
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Walmart boosts pay for 165000 hourly associates nationwide - Fox Business
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