Ten years ago, Walmart (WMT) raised its starting wage to $9 an hour, impacting the salaries of half of its more than a million U.S. hourly wages, Sarah Nassauer of The Wall Street Journal reports. The company raised its starting salaries to reduce employee turnover, organize more stores, increase sales, and better position the company for e-commerce. While initial reactions to the decision caused the stock to be driven down, shares have now more than doubled over the past five years and employee retention has increased by 10%. The company’s experience will be published as a Harvard Business School case study.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WMT:
- Walmart (WMT) Set to Join Trillion Dollar Club By Mixing Old Value With New Tech
- AMZN, WMT, COST: Survey Finds Americans Plan to Spend 10% Less this Holiday Season
- Nvidia upgraded, Ibotta downgraded: Wall Street’s top analyst calls
- Walmart to emerge as ‘winner in Agentic Commerce race’, says DA Davidson
- Walmart’s Strategic AI Partnership with OpenAI: A First-Mover Advantage in Retail