Wal-Mart Wage Hike to $15 an Hour Would Cost It $4.95 Billion, Study Says
Wal-Mart Stores Inc. would have to spend an additional $4.95 billion if it were to raise the minimum wage for its hourly employees in the United States to $15 per hour from the current $10 per hour, according to an estimate by the UC Berkeley Center for Labor Research, Reuters is reporting.
Study found that 1.1 million of the big retailer’s 1.5 million employees are paid hourly wages. An estimated 979,000 employees would get an increase if Wal-Mart went to $15 per hour.
Labor groups have been demanding a $15 minimum wage for the company’s workers, and the “Fight for Fifteen” movement has been a topic of discussion during the U.S. presidential campaign, reports .
