Walmart workers to receive pay raise next month

NEW YORK. Walmart said it will give American workers a pay raise next month, raising starting wages to $14 to $19 an hour.

The company’s president, CEO John Ferner, told employees in a memo on Tuesday that the pay increase will be reflected on their paychecks on March 2 and will come through a combination of targeted and regular annual pay increases.

Employees at 3,000 stores will receive a raise, raising the average wage to $17.50 an hour from $17. Starting wages currently range from $12 to $18 an hour, depending on location.

The latest pay hikes bring Walmart, the nation’s largest retailer and largest private employer, closer to many of its competitors, including Target and Amazon, which have raised the minimum wage to $15 an hour.