Walmart announced Thursday that U.S. store managers will receive a pay raise in February, raising average hourly wages in superstores to more than $18.
The retail giant says starting February 1, the average salary for store managers will increase from the current $117,000 to $128,000. In addition, if the manager achieves certain goals and profit indicators, the annual bonus can reach 200% of his basic salary.
Walmart said last year that its average hourly wage would rise from $17.50 to more than $18 due to “investments in front-line hourly employees and upcoming annual raises.”
The company then redesigned its store manager bonus program, giving managers up to 200% annual bonuses based on sales and store profits.
Cedric Clark, Executive Vice President of Store Operations, Walmart We believe that there are,” he wrote in a memo to the United States. Managers. “Not only are you responsible for exceeding customer expectations every day. Each of you is the CEO of a multi-million dollar business. And you are the driving force behind developing our next generation of leaders.”
This latest move comes on the back of solid wage gains and strong retail sales growth in December as U.S. employers hired more workers in an overall tight labor market. There is.
Walmart is investing in its store workforce to retain more employees, and in September announced changes to its pay structure to standardize starting hourly wages across all jobs and departments.
“As Walmart continues to grow and evolve over the years, so too has the need for jobs to support our business,” a Walmart spokesperson told FOX Business at the time. “We are changing our approach to campus office work to remain competitive in today’s environment, better reflect the work currently being done, and streamline positions across campus office roles. We are in the process of updating it.”
Walmart made a series of adjustments to compensation and workforce requirements last year. In September, the company announced it would eliminate college degree requirements for some white-collar positions at its headquarters in Bentonville, Arkansas.
Walmart also announced lower starting salaries for personal shoppers and stockists, but the change did not affect current employees.
Walmart's minimum wage is $14 an hour companywide, but starting wages can reach $19 an hour depending on store location.
The retail chain employs approximately 1.6 million people in the United States.
