A Walmart (NYSE:WMT) pay raise is coming in 2020 as the company changes how its business operates to benefits its employees.
According to a Walmart news release, the company is going to be increasing the pay roughly 165,000 hourly employees. The 2020 Walmart pay raise has it increasing the starting pay for bakery workers from $11 per share to $15 an hour.
To go along with this, Walmart also notes that a pay raise is coming for several of its auto care center employees. It says that many of these employees will see their base pay increase by at least $1 per hour.
Dacona Smith, COO of Walmart U.S., said this about the 2020 pay raise.
“We are re-investing in several ways to provide associates with higher and more consistent base pay. All of the above associates will get an increase in pay in October, taking the place of the annual increase they typically have to wait until February or April to receive. Likewise, for these select hourly roles, this increase will also take the place of the regular quarterly bonus and become part of their base pay going forward, offering more predictability and more pay in their hourly wages.”
Walmart’s news release also points out that it’s making changes to leadership roles. That includes forming specialized teams to handle tasks in stores. Leaders of these teams can expect to get more pay as a result.
Walmart says that its hourly team leaders will see their starting pay end up between the $18 an hour and $21 an hour range. These employees will also be able to earn up to $30 an hour if they work at one of the retailer’s Supercenter locations.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.