WalMart To Raise Pay For Over 1.2 Million Workers

WalMart Stores announced on Wednesday that over 1.2 million of its full-time WalMart and Sam’s Club employees would get a pay increase, as the retailer hopes to stem defections amidst a tight labor market. The largest private employer in the U.S. notes the latest move will shrink the gap between the lowest paid and more senior employees. WalMart’s wage boost to cost $2.7 billion over next 2 years Given the endemic turnover in the retail industry, WalMart announced Wednesday it will give nearly all of its U.S. hourly store employees a raise next month. The wage boost won’t be confined…