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Walmart To Change The Pay Structure Of Entry-Level Store Workers
Walmart is about to change the hourly starting pay structure for its entry-level workers at the store. This led to a rise in the shares of the company by 1%. Due to the slowing job market, many companies are looking for ways to reduce their costs.
Previously, there were different levels of starting wages for different types of workers. Now, the starting wages will all be the same for all types of workers at Walmart. This means that all entry-level store workers like cashiers, self-checkout helpers, stokers, personal shoppers, and associates at every department will get the same hourly payments.
However, workers at the Deli, bakery, and auto center will get higher starting wages. This is because working in these roles requires high-level skills.
According to Reuters.com,
?Walmart’s move comes at a time when U.S. job growth data in August showed that the labor market was slowing in response to the U.S. central bank’s hefty rate hikes to cool demand in the economy, which has already started to see demand waver for discretionary items.?
The employees at Walmart receive different entry-level wages based on which location the store is situated. For example, a worker in the Northeastern part of the US will get higher payments as compared to someone present in the Midwestern area.
A Walmart spokesperson declared that the new wage structure, however, will not affect the minimum hourly wage of $14 or will not result in any pay cuts for existing employees.
Despite various pay cuts, the retail giant did better than most of its rivals because its main focus is on groceries. Groceries have become a big portion of the budgets of consumers. This is happening at a time when consumers? wallets are shrinking due to inflation.
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