Walmart Boosts Pay for Hourly Workers

Walmart Stores Inc. (Bentonville, Ark.) announced that it will be increasing wages for nearly all of its U.S. hourly store employees next month.

The company plans to boost its minimum wage to $10 an hour, and workers who have been employed by the retailer since Dec. 31 will get at least a 2-percent pay increase, as well. Nearly 1.2 million employees working in the company’s Walmart and Sam’s Club stores will receive the increases.

The changes are meant to increase worker satisfaction and encourage employee retention. Currently, the company loses about half a million store workers each year, which results in increased costs for employee hiring and training, reports The Wall Street Journal.