NEW YORK — Wal-Mart Stores Inc. is spending $1 billion to make changes to how it pays and trains hourly workers as the retailer tries to reshape the image that its stores offer dead-end jobs.
As part of its biggest investment in worker training and pay ever, Wal-Mart said that within the next six months it will give raises to about 500,000 workers, or nearly 40 percent of its 1.3 million employees. Wal-Mart follows other retailers that have boosted hourly pay recently, but because it's the nation's largest private employer, the impact of its move will be more closely watched.
In addition to raises, Wal-Mart said it plans to make changes to how workers are scheduled and add training programs for sales staff so that employees can more easily map out their future at the company.
"We are trying to create a meritocracy where you can start somewhere and end up just as high as your hard work and your capacity will enable you to go," CEO Doug McMillon said during an interview this week at the company's headquarters in Bentonville.
The changes, which Wal-Mart announced Thursday as it reported fourth-quarter results, come as concern grows for the plight of the nation's hourly workers.