BENTONVILLE, Ark. (KETK) – Walmart announced Tuesday that it would raise their associate average wage to $15 per hour.
This comes as Walmart reports $35 billion of growth from the most recent quarter.
With roughly 515 Walmart locations in Texas, this raise in wages could impact many Texans. Just last fall, they raised wages for 165,000 frontline associates.
“Our associates responded unbelievably to serve customers in one of the most challenging times we’ve faced,” Walmart Chief Financial Officer Brett Biggs said. “We have tremendous momentum having just completed a year with record sales and operating cash flow.”
Walmart’s release said it is building a “next generation business model” and investing in automation to fuel future sales and earnings growth. What automation means for the amount of jobs in the future remains to be seen.
Walmart currently employs more than 2.2 million associates around the world.
With the COVID-19 pandemic forcing many to turn to online shopping or curbside pickup, Walmart’s eCommerce sales grew by almost 70%.
Walmart President and CEO Mark McMillon said that their fiscal position is strong.
“We completed a strong year and a strong Q4 thanks to our amazing associates. They stepped up to serve our customers and members exceptionally well during a busy holiday period in the midst of a pandemic,” McMillon said.
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