Walmart's hiring and wage pressures have eased, CEO says
Publishing timestamp: 2023-12-06 11:49:07
Summary
Walmart CEO Doug McMillon stated in an interview that the hiring and wage environment has become more normalized. He mentioned that wages are still increasing, but the percentage increase won't be as high as before. McMillon also discussed how artificial intelligence is changing employees' roles in stores and warehouses. He mentioned that Walmart has seen improvements in hiring and retention of employees. The article also mentions Walmart's position as the largest private employer and grocer in the US. McMillon discussed the changes in the labor market and Walmart's response to it, including raising the minimum wage and adjusting hiring practices. He also mentioned the potential impact of tighter budgets for consumers in the future and the shift in employee roles due to automation and technology.
Sentiment: NEUTRAL
Keywords: breaking news: business, amazon.com inc, retail industry, target corp, walmart inc, business, best buy co inc, business news,
Source: https://www.cnbc.com/2023/12/06/walmart-hiring-wage-pressures-have-eased-ceo-says.html