Walmart Inc (WMT.N) on Tuesday said it will pay the full cost of college tuition and books for its roughly 1.5 million full and part-time employees, effective Aug. 16.
The exterior of a Walmart department store pictured in West Haven, Connecticut, U.S., February 17, 2021. REUTERS/Mike Segar/File Photoon Tuesday said it will pay the full cost of college tuition and books for its roughly 1.5 million full and part-time employees, effective Aug. 16.
Consumer demand is soaring as the U.S. economy reopens from the COVID-19 pandemic, deepening a national labor crunch. Employers are adding benefits and boosting wages as they struggle to find and keep enough workers, particularly in retail and restaurants. In February, Walmart said it would raise average pay for U.S. hourly workers to at least $15.25 an hour.
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