Walmart announced this week it will now offer its part-time and full-time employees a free college education in an effort to eliminate “the burden of education debt.” The retail giant’s latest move comes as employers struggle to hire or retain hourly employees nationwide.
The company announced changes to its existing Live Better U (LBU) program on Tuesday, which would offer associates the opportunity to earn a college degree or learn a trade skill starting August 16. Walmart said in its announcement that it would be investing nearly $1 billion over the next five years in career development by paying 100% of employees’ tuition and book costs.
“This investment is another way we can support our associates to pursue their passion and purpose while removing the barriers that too often keep adult working learners from obtaining degrees,” Lorraine Stomski, senior vice president of learning and leadership at Walmart, said in a statement.
Walmart also said it would be discontinuing its $1 a day college investment program that launched in 2018 after assessing changes in the economy and job market. More than 52,000 of the company’s more than 1.5 million employees have participated in that program. LBU will now also include “in-demand” degrees and certificates in business administration, supply chain, and cybersecurity.
“When an associate enrolls in LBU and earns a certificate or degree, they take important steps toward creating a long-term career within the Walmart ecosystem,” the announcement read.
Walmart has added four new colleges to its existing roster of academic partners for the program including Johnson & Wales University, the University of Arizona, the University of Denver, and Pathstream.
The retailer, which is the largest private employer in the U.S., has come under fire for years for paying employees low wages. In February, the company announced it would give 425,000 store associates a raise and increase the starting pay to at least $13 an hour, depending on the store location. Starting pay at Amazon and Target is $15 an hour.
Walmart and other companies have struggled to keep up with the rapidly reopening economy after the pandemic laid-off employees and forced non-essential businesses to shut down. Several industries have raised wages and provided incentives to entice the American workforce to return to in-person jobs.
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July 28, 2021 at 11:28PM
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Walmart Will Now Pay For Its Employees’ College Education - NowThis
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