In a bold move, Walmart shakes up its pay structure for store managers, promising higher salaries and revamped bonuses. Explore the details of this game-changing decision.

Walmart announces a substantial base pay increase for store managers. Starting February 1, the average annual salary for store managers is set to jump from $117,000 to $128,000.

The retail giant doesn't stop at salary bumps. Walmart is redesigning its store manager bonus program, with a focus on tying bonuses to the profit generated by the stores they manage.

In a significant shift, store managers will see their annual bonuses linked to the profits of the stores they lead. This means that hitting sales targets isn't the sole factor; the bottom line now plays a pivotal role.

Under the new bonus program, successful store managers could potentially double their base salary. This marks a substantial increase from the previous cap of one and a half times their base salary.

Cedric Clark, the Executive VP of Store Operations at Walmart, emphasizes the company's belief in investing in its team. Clark sees this move as a strategic investment in Walmart's culture, core values, and the day-to-day experience of every associate.

The anticipated changes are set to take effect on February 1. This gives store managers a clear timeline for the implementation of the salary increases and revamped bonus structure.

Walmart's commitment to fair compensation extends beyond store managers. The company announces that average wages for hourly workers will surpass $18, up from $17.50. This demonstrates Walmart's dedication to uplifting its entire workforce.