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Wal-Mart CEO Says Company’s U.S. Workers Will Soon Make Above Federal Minimum Wage

2 min read

Employees of Wal-Mart Stores Inc. of Bentonville have protested for wage increases, and according to company CEO Doug McMillon, that raise is coming soon. 

In a sit-down interview with Charlie Rose of “CBS This Morning,” McMillon said it wouldn’t be long before all of the retailer’s U.S. workers make more than the federal minimum wage, which is currently $7.25. It might not be the raise several protestors have pushed for, but it’s a start.

Here’s an excerpt from the interview:

“We’re going to make some changes in a few months that will create a situation where no Wal-Mart associate in the United States makes federal minimum wage. We’ll be ahead of that with our starting wage,” McMillon said.

He said he believes there is a difference between the perception of Wal-Mart and the reality of Wal-Mart.

“In the world there is a debate over inequity, and sometimes we get caught up in that and retail does in general. But we couldn’t run a good business if we don’t take care of people and have compensation plans that work,” McMillon said.

McMillon didn’t go into details about how much more than the federal rate workers would make. Check out the entire video below, and story here.

In the interview with Rose, McMillon also discussed a June accident involving a Wal-Mart truck driver and comedian Tracy Morgan. The accident critically injured Morgan and killed comedian James McNair. Wal-Mart now faces litigation from Morgan.

“It was a tragedy,” McMillon said. “I would first of all say to the McNair family how sorry we are for their loss. And to Tracy Morgan and everyone else involved in it, we feel very bad about what happened, and from the beginning have tried to say we want to take responsibility for it and do what’s right.”

Watch the video below for more.

Rose’s entire 20-minute interview with McMillon is available here via Bloomberg.

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