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Retail giant Walmart (New York Stock Exchange:WMT) plans to increase salaries for store managers and hourly workers at its US locations.
The average annual salary for U.S. Walmart (WMT) store managers will increase from $117,000 to $128,000, according to a study. letter Sent to all US Warehousing Managers by Cedric Clark, Executive Vice President of Store Operations.
The department store chain is also promoting its annual bonus program. If managers meet or exceed sales goals, bonuses could reach up to 200% of their base salary.
In addition to management salary adjustments, hourly workers may also receive a raise. The average hourly employee at Walmart (WMT) will receive more than $18 per hour.
Walmart's (WMT) hourly wage increase comes several years after rival retail giant Target (TGT). In 2017, Target (TGT) increased its starting wage to $15 an hour. In 2022, starting salary increase up to $24/hour.
Walmart (WMT) has increased 13% in the past year.
