{"id":181873,"date":"2021-02-18T19:06:48","date_gmt":"2021-02-18T16:06:48","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/walmart-to-raise-workers-average-pay-to-15-an-hour\/"},"modified":"2021-02-18T19:06:48","modified_gmt":"2021-02-18T16:06:48","slug":"walmart-to-raise-workers-average-pay-to-15-an-hour","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/walmart-to-raise-workers-average-pay-to-15-an-hour\/","title":{"rendered":"#Walmart to raise workers’ average pay to $15 an hour"},"content":{"rendered":"

“#Walmart to raise workers’ average pay to $15 an hour<\/strong>”
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Walmart said it will raise workers\u2019 average pay to $15 an hour, even as the world\u2019s largest retailer warned that its pandemic-fueled growth is poised to slow this year, sending its shares down by more than 5 percent.<\/p>\n

The Bentonville-based behemoth\u2019s comparable sales surged by 8.6 percent in the fourth quarter while total revenues rose to a record $152.1 billion or a 7.3 percent increase from a year ago.<\/p>\n

On the heels of that holiday strength, Walmart said beginning March 13 it is raising the average pay for 425,000 front line associates to above $15 an hour while keeping its minimum starting pay at $11 an hour.<\/p>\n

\u201cWe completed a strong year and a strong [fourth quarter] thanks to our amazing associates,\u201d chief executive Doug McMillon said in a statement, adding \u201cThis is a time to be even more aggressive because of the opportunity we see in front of us. We have momentum with customers and our financial position is strong.\u201d<\/p>\n

Nevertheless, its earnings fell short of Wall Street\u2019s expectations coming in at $1.39 per share, short of the $1.51 analysts expected, in large part because the company spent more than $1 billion in COVID-related expenses.<\/p>\n

Management also warned that it expects slower sales growth this year in the low-single-digits and lower profits as it invests in technology<\/a>, employee benefits and shopping related habits change as the pandemic abates and consumers spend money on other things besides essential goods.<\/p>\n

It\u2019s e-commerce sales grew by 69 percent in the fourth quarter \u2014 but it was the slowest growth rate since the start of the pandemic.<\/p>\n

Walmart said it expects lower profits and slower growth in the new fiscal year. It forecast U.S. comparable sales would rise by a low-single-digit percentage, compared with 8.6% growth in fiscal 2021. Walmart, like many other businesses during the pandemic, had stopped giving financial guidance in recent quarters.<\/p>\n

The pay raise comes amidst the Biden administration\u2019s push to raise the federal minimum wage to $15 an hour along with calls by labor groups to increase workers\u2019 pay during the health crisis given the risks they face.<\/p>\n

Other discount retailers are either temporarily or permanently raising the base pay of their front line workers, including Trader Joe\u2019s, Target and Lidl, which will pay Long Island employees $16.50 an hour starting on March 8, the company said this week.\u00a0<\/p>\n

Walmart has given employees bonuses totaling $2.8 billion in 2020, the company said in December.<\/p><\/div>\n

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“#Walmart to raise workers’ average pay to $15 an hour” Walmart said it will raise workers\u2019 average pay to $15 an hour, even as the world\u2019s largest retailer warned that its pandemic-fueled growth is poised to slow this year, sending its shares down by more than 5 percent. The Bentonville-based behemoth\u2019s comparable sales surged by…<\/p>\n","protected":false},"author":1,"featured_media":181874,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/02\/walmart-earnings.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[93894,74150,5015,32332],"class_list":["post-181873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-2-18-21","tag-minimum-wage","tag-retailers","tag-walmart"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/181873","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=181873"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/181873\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/181874"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=181873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=181873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=181873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}