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Walmart, Once a Byword for Low Pay, Becomes a Case Study in How to Treat Workers
Tags: Current Focus, Renewal America, Leadership Skills, Managing Business, United States, Information Technology, Retail, Capital Markets, The Economy, Worklife, Inequality / Upward Mobility, Movement for Renewal of America, 2. Cost of Living Action, 3. Income and Wages Fairness, 5. Bringing Jobs and Factories to the US, 10. Health- Body/Mind Wellbeing for All ,
What was once seen as a debacle on CNBC and Wall Street in 2015- the decision of CEO McMillon at Walmart to raise wages from 7.25 an hour to $9.00 an hour with share price drop of 10% turns into a big win by 2025. Mcmillon did not hestitate to show slides at NYSE for Earnings per share drop of 12% instead of 6%, $2.7 billion investment. Pay is now about $18 an hour in 2025 and this is only one metric as the benefits include free college and technical education, parental leave, more job training, job promotions, cleaner better stores. The remarkable thing is that it spread to other stores Target and TJ Maxx, and over time to a broad swath of American companies. Cost of living is an issue today for Americans in 2025, imagine what things would be like if leaders from the University of Arkansas with deep connections to the Bentonville region had not taken a decision independent of ideas on Wall Street and NYSE, CNBC. As McMillon retires the new CEO is also from the University of Arkansas with deep connections to the Bentonville area- John Furner, the current CEO of America region.
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