Walmart executives this week announced the company is raising pay for hourly employees.
The company said the raises will increase its minimum wage to $14 an hour, boosting average hourly pay to about $17.50 for hundreds of thousands of employees.
The company employs about 1.6 million people in the U.S. and 2.3 million globally.
“At Walmart, we know our people make the difference,” CEO and President John Furner wrote in a memo to employees. “That’s never been more true than today — your talent and dedication to your customers is helping them live better lives every day.”
The new pay hikes will show up in paychecks beginning March 2, company officials said.
Furner also said the company would create a higher-paying auto care center team lead position called an auto center coach. The company has about 2,500 auto centers.
He also said the company will add new college degrees and certificates to its education program, Live Better U.
Walmart also will expand its associate-to-driver program. The company’s career development program was previously only available to supply chain employees but is now also open to store associates.
Walmart’s pay bump better aligns the company with other major retailers.
Amazon warehouse and delivery workers received a raise before the Christmas holidays, and they now make on average of between $16 and $26 per hour.
Target last year raised its starting pay range from $15 to $24 an hour.
“We’re proud to continue investing in Walmart’s legacy by introducing new job opportunities and raising pay,” Furner said. “No matter where you are in your journey, getting your start here can open doors — the first step into jobs that become careers and build better lives.”
