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Compensation and Benefits
Wal-Mart pay hike raises hopes of workers and shoppers
Wal-Mart pay hike raises hopes of workers and shoppers

With Wal-Mart raising the minimum wage for its U.S. employees to at least $9 an hour, some workers who are making a bit more now hope they're not left behind. Wal-Mart Stores Inc. said Thursday that the hike for 500,000 employees, starting in April, is part of comprehensive changes to the company's hiring, training, compensation and scheduling programs in the United States, as well as to store management structure. It said the changes are expected to cost more than $1 billion in the retailer's current fiscal year, which began Feb. 1. Wall Street reacted by pushing shares down $2.77, or 3.2%, to $83.52. Darren Perkins, though, hopes that the wage hikes will eventually...

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