12-05-2015, 05:19 AM
Walmart is raising it's minimum hourly wage for full time employees to $13/hour and PT to at least $10 at all its stores in February. Employees will also have fixed schedules and will know them at least 2.5 weeks in advance. They have raised their wages so much in the last 2 years that their last drop in earnings report was significant enough it caused a drop in the entire stock market. They will have to raise their prices to remain profitable- I imagine their employees are also their customers so some of these higher wages will be recouped that way. Most of their customers are on EBT so everybody's EBT will buy a little less.
I'm ALL for higher wages but some people don't realize that the money has to come from somewhere.
The current CEO of Walmart got his start in the company working as a part time associate, went to college, later became a full-time employee, eventually got his MBA and worked his way up the corporate ladder. The pay and benefit increases started about the same time he became CEO. If his theory works- that better wages leads to better employees which leads to a better customer experience which leads to better profits, all without a government wage mandate, then capitalism still works.
I'm ALL for higher wages but some people don't realize that the money has to come from somewhere.
The current CEO of Walmart got his start in the company working as a part time associate, went to college, later became a full-time employee, eventually got his MBA and worked his way up the corporate ladder. The pay and benefit increases started about the same time he became CEO. If his theory works- that better wages leads to better employees which leads to a better customer experience which leads to better profits, all without a government wage mandate, then capitalism still works.