Walmart Gives 500,000 Workers A Raise

Walmart said Thursday that it will give about 500,000 workers a pay bump.

Minimum hourly wages will increase in April to about $9, a $1.75 increase above the federal minimum wage, the retail behemoth said in an earnings release. By February 2016, current employees will earn at least $10 an hour, it said.

More from the release:

Approximately 500,000 full-time and part-time associates at Walmart U.S. stores and Sam's Clubs will receive pay raises in the first half of the current fiscal year. Current and future associates will benefit from this initiative, which ensures that Walmart hourly associates earn at least $1.75 above today's federal minimum wage, or $9.00 per hour, in April. The following year, by Feb. 1, 2016, current associates will earn at least $10.00 per hour.

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