Reportedly, Walmart Stores, Inc. (WMT) is increasing starting salaries for its freight drivers to between $95,000 and $110,000 a year, up from an average starting salary of $87,500. The push comes as supply-chain problems add challenge to the already troubled trucking industry. The American Trucking Association estimates the nation is short about 80,000 drivers. Walmart has hired 7,000 drivers for its internal fleet during the past two years, while last year it hired 4,500, which is the most in the company’s history, informed a spokesperson. The retailer has also launched the “Private Fleet Development Program,” a 12-week program taught by established Walmart truckers to train new drivers.
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, 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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