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Walmart cuts starting pay for new hires who prepare online orders, stock shelves - TL;DR CNBC

Walmart cuts starting pay for new hires who prepare online orders, stock shelves

Publishing timestamp: 2023-09-07 15:23:58


Summary

Walmart has cut starting pay for store employees who stock shelves and prepare online orders. This raises questions about whether companies are facing a cooling labor market or adjusting to pre-pandemic shopping habits. The starting wages for new employees in these roles have been reduced, but no current employees have had their pay cut. Walmart also made changes to pay bands for more experienced employees, resulting in a wage raise for approximately 50,000 store employees. The move comes as Walmart continues to see strong online sales growth but not as dramatic as during the early years of the pandemic.


Sentiment: NEUTRAL

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Keywords: business newsretail industrybusinessmacy's incbreaking news: businesstarget corpamazon.com incwalmart inc

Source: https://www.cnbc.com/2023/09/07/walmart-cuts-starting-pay-for-new-hires-who-prepare-online-orders-stock-shelves.html


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