The world’s largest retailer is giving its employees a raise.
Walmart announced Thursday that it will hike its wage floor to $9 for current workers in April and will push up the baseline wage again to $10 by February 2016.
This means that about 500,000 full- and part-time employees of the company — which employs an estimated 1.4 million individuals nationwide — will receive a pay raise.
The move is intended to both satisfy Walmart workers and generate a better experience for Walmart customers.
“Overall, these are strategic investments in our people to reignite the sense of ownership they have in our stores,” CEO Doug McMillon explained while on a call to discuss quarterly earnings. “As a result, we firmly believe that our customers will benefit from a better store experience, which can drive higher sales and returns for our shareholders over time.”
The retail chain has often been criticized for paying employees low wages. For instance, an opinion piece written for The New York Times last year dubbed the corporation “The Corporate Daddy” and accused Walmart of “forc[ing] employees into public assistance with its poverty-wage structure.”
Walmart, of course, fired back by debunking of the article. Perhaps the freshly-announced wage hike will similarly quiet critics.
H/T Huffington Post
