Reportedly, Walmart Inc (WMT) announced it plans to bear the complete cost of college tuition and books for its full and part-time employees (roughly 1.5 million), starting August 16. Walmart has been criticized for years as thousands of its workers are below the poverty line, and it has also been criticized for paying less than rivals like Amazon.com, Target, and Kroger.
In February, the retailer said it would increase average pay for U.S. hourly workers to at least $15.25 an hour. Then next month in March, it announced it would further boost pay for its hourly workers based on the U.S. east and west coasts, as the cost of living is higher there along with intense competition for labor among retailers.
Consumer demand is increasing as the U.S. economy reopens from the pandemic, posing a national labor crunch. Employers are working to add benefits and boost wages as they struggle to find and keep enough workers, particularly in retail and restaurants. The company informed roughly, 28,000 employees have been active in Walmart’s educational programs this summer alone and 8,000 have graduated since it began in 2018 to offer college degrees, certificate programs, and skills training.
Walmart Stores, Inc. (WMT) is a worldwide retailer that operates in various formats. The three segments of the company include Walmart U.S., Walmart International, and Sam’s Club. The company is comprised of discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, apparel stores, drug stores, convenience stores, and membership-only warehouse clubs; and retail Websites. To learn more about Walmart (WMT) and to continue to track its progress please visit the Vista Partners Walmart Coverage Page.
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