Walmart, which plans to close 150 stores, to raise minimum wage for most hourly workers

Walmart, which announced last week it was closing 150 stores, said Wednesday that in February most hourly workers will receive a raise, Sarah Nassauer reports for The Wall Street Journal. "Walmart previously said it planned to boost its minimum wage in February to $10 an hour. But the giant retailer said Wednesday that hourly workers employed in its stores as of Dec. 31 would get at least a 2 percent pay bump. The wage increase will affect nearly 1.2 million U.S. employees at the company’s Walmart and Sam’s Club stores."

"The across-the-board pay increase is aimed at addressing complaints by some longtime store workers about Walmart’s more-generous starting wages for new hires," Nassauer writes. "The company also is hoping to stem defections and the sums it spends to hire and train new employees. Walmart loses about half a million store workers a year. Minimum-wage increases took effect in 20 states last year, and several of the biggest employers of hourly workers, including McDonald’s Corp. and Starbucks Corp., have raised their starting pay." The move is expected to force competitors like Target to also raise wages. (Read more)