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Walmart announced yesterday that it give more than 1.2 million employees a raise on February 20.

MarketWatch reports that "hourly workers employed in its stores as of Dec. 31 would get at least a 2% pay bump."

According to the Washington Post, "The change includes a previously-announced increase to the retailer’s minimum wage, but also incorporates a plan to move forward in the calendar the annual raises that many workers would typically have received on the anniversary of their first day of work with the company ... Walmart had said last February that it would raise its minimum wage to $9 per hour in April 2015, with a second raise to $10 per hour planned for 2016."

The Post goes on to say that "the policies by the world’s largest retailer represent a bid to better attract and retain talent at a moment when an improving economy has meant the labor market is more competitive.  And the plans are also part of the chain’s attempt to invigorate sales by offering better service in its fleet of more than 4,000 U.S. stores."
KC's View:
It is interesting that Walmart is giving raises at the same time that it is closing a bunch of stores. But McMillon has shown the willingness to move pieces around the board to serve a greater strategy ... and since he clearly feels that he has to push the envelope organizationally, this seems entirely within character.