Walmart’s US workers are set to get raises next month

Walmart’s US workers are set to get raises next month

  • Finance
  • January 25, 2023
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Walmart said it will give US workers pay increases next month, raising starting wages to $14-$19 an hour.

John Furner, the company’s CEO, told employees in a memo on Tuesday that the pay increases will be reflected in their March 2 paychecks and will come through a combination of targeted and regular annual pay increases.

Workers at 3,000 stores are getting pay increases, raising the average hourly wage to $17.50 from $17.50. Starting wages currently range from $12 to $18 an hour, depending on location.

Tough competition with labor shortages

Competition for low-wage retail workers remains fierce, even as companies cut back on hiring amid ongoing labor shortages. Walmart and its competitors have raised wages several times in recent years and added additional employee retention benefits, including in vitro fertilization, fertility testing, and financial help with surrogacy and adoption.

The latest pay rises bring Walmart, the nation’s largest retailer and largest private employer, closer to many of its peers, including Target and Amazon.

Target introduced minimum wages last year ranging from $15 to $24 an hour, with the highest salaries in the most competitive markets going to employees. It currently pays a universal starting wage of $15 an hour. Amazon also pays a minimum wage of $15 an hour, with wages rising to $22.50 an hour in regions with tight labor markets.

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