Wal-Mart workers have a reason to be happy this week. The country's largest retail store chain is giving them a raise this Thursday. These salary increases, according to the company, are part of its investment to "provide associates the skills, knowledge and tools they need to grow with the company."
This initiative of Wal-Mart will benefit over 32,000 employees at the company's Sam's Club and Indiana locations along with the rest of the 1.2 million workers countrywide. It is the biggest single-day private sector salary increase ever, according to the company.
Over 11,400 employees from southwest PA and 328 in Armstrong County and nearly 45,000 workers in Pennsylvania will also celebrate when they receive their pay hikes.
The pay increases are part of Wal-Mart's investment worth $2.7 billion for the next two years. It is designed to provide not just higher salaries but also better training, additional educational opportunities to its employees and clearer career paths.
As infomercials often say: "But wait, there's more," the store chain is also providing its associates quarterly cash bonuses according to their particular store's performance.
In the last fiscal year, employees of the company all over the country have received over $550 million in bonuses. Pennsylvania associates, in particular, earned approximately $29.8 million. In Indiana, the associates received $16.7 million.
With the new salary rates in place, all Wal-Mart associates hired prior to Jan. 1, 2016 will receive at least $10 per hour. After that date, all entry-level employees will start at $9 per hour. They will move up to $10 per hour after they complete the store chain's new retail training and skills program they call 'Pathways.'
Employees who are already receiving over $10 per hour will have their yearly pay increases beginning in March instead of waiting for their hire date anniversary.
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