Walmart Finally Raises Its Minimum Wage

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Walmart is raising wages for its lowest paid workers. CNN Money reports that 500,000 full-time and part-time associates will get a raise in April so that they are paid at least $9 an hour. By February 1st of next year, Walmart will raise its minimum wage to $10 an hour for current associates.

Walmart CEO Doug McMillon announced the pay raises in a Walmart blog post: "I'm also excited about an innovative program we’re launching for future associates that will allow you to join Walmart at $9 an hour or more next year, receive skills-based training for six months, and then be guaranteed at least $10 an hour upon successful completion of that program. We're also strengthening our department manager roles and will raise the starting wage for some of these positions to at least $13 an hour this summer and at least $15 an hour early next year."

Walmart is also changing its scheduling system, promising that employees with have more flexibility, control and predictability. CNN Money says that "the new program will cost the company about $1 billion in this fiscal year."

The federal minimum wage is $7.25 per hour. Prior to this announcement, Walmart had previously been forced to raise its employee's pay at a third of its stores due to federal minimum wage hikes.  Labor groups have also targeted Walmart in protests for higher wages for employees.