±500 000

Finweek English Edition - - IN BRIEF -

The num­ber of Wal­mart em­ploy­ees in the US who will earn $9 (R105) an hour from April and $10 (R117) from Fe­bru­ary next year. The cost to the re­tailer this year will be more than $1bn (R11.6bn), it said. The min­i­mum hourly wage in the US is $7.25 (R84.56). Wal­mart, which loses 44% of its em­ploy­ees ev­ery year, pays sub­stan­tially less than ri­val Costco, whose av­er­age pay is $20 (R233) an hour and has a staff turnover rate of 17%.

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