JONESBORO, AR (KAIT) - More than a million Walmart and Sam's Club employees will get a raise next month.
Walmart announced Wednesday that 1.2 million associates will receive a pay increase under the second phase of the company's two-year, $2.7 billion investment.
Among the changes taking effect on Feb. 20, according to a news release from the company, will include:
- All associates hired before Jan. 1, 2016 will earn at least $10/hour.
- New entry-level associates will continue to start at $9/hour and move to at least $10/hour after successfully completing the company’s company’s new retail skills and training program known as Pathways.
- Associates already earning more than $10/hour will receive an annual pay increase in February rather than waiting until their anniversary date.
- Walmart is raising the starting rate of its non-entry level hourly pay bands. Anyone earning below the new minimum will automatically move up to the new minimum.
- Associates at or above their pay band maximum will receive a one-time lump sum payment equal to 2 percent of their annual pay.
- When these changes go into effect, Walmart’s average full-time hourly wage will be$13.38/hour. The average part-time hourly wage will be $10.58/hour.
The pay raise, according to Walmart, will be one of the largest single-day, private-sector pay increases ever.
To read other benefits the company plans to provide for its employees, click here.
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