I think Doug McMillon made a right decision when he redirected Walmart to increase worker pay, but I may be an minority of one and certainly no one on Wall Street agrees. Writing in Wal-Mart Shares Are Plummeting---3 Reasons They Could Fall Even Further Brian Souzi hyperventilates:
Since the Feb. 19 announcement by Wal-Mart CEO Doug McMillon of a sweeping overhaul to what the company pays employees and how it trains them, Wal-Mart's stock has plunged about 23%, compared to the S&P 500's decline of 8.4%. Since the stock's high in early January, Wal-Mart's shares are off almost 30%. Wal-Mart's plan raised pay for approximately 500,000 full-time and part-time associates at U.S. locations and Sam's Clubs in the first half of the year, lifting the minimum hourly wage at Wal-Mart to $9 an hour. By Feb. 1, 2016, another hike will ensure current Wal-Mart associates will earn at least $10 per hour. The maneuvers on pay are a departure from the business model Wal-Mart's founder Sam Walton pioneered: low employee wages, unbeatable prices, big profits.
Of course, Sam never had to deal with Amazon. Jeff Hess: Have Coffee Will Write.

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