Wal-Mart offers a raise

Two weeks ago, General Motors announced it would be offering workers record bonuses despite an exceptionally rough fiscal year, with 30 million vehicle recalls and $3 billion in compensation to accident victims. 

Now, Wal-Mart has announced it is giving workers a raiseThe lowest paid at Wal-Mart will now earn $9 an hour, up from the $7.25 federal minimum.

In 2016, that wage will be pushed up to $10. 

In a letter to employees, Wal-Mart CEO Doug McMillon addressed economic and career mobility within the company. 

He said Wal-Mart would be launching a program “for future associates that will allow you to join Walmart at $9 an hour or more next year, receive skills-based training for six months, and then be guaranteed at least $10 an hour upon successful completion of that program.”

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McMillon also said Wal-Mart would be enhancing its “department manager” position, offering a wage of $13 per hour, up to $15 by 2016.

“If you work hard, develop new skills and care for others, there should be no limit to what you can do here,” he wrote.

Overall, the raises will cost Wal-Mart $1 billion this fiscal year. The changes will take place in April and affect nearly 500,000 full-time and part-time workers by mid-fiscal year.

Striking Wal-Mart employees have been demanding $15 an hour.

[Vinnie Rotondaro is NCR national correspondent. His email address is vrotondaro@ncronline.org.]

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