This month store managers announced they were cutting employee hours to pay for the pay increase. Bloomberg reported, via Every Joe:
Wal-Mart Stores Inc., in the midst of spending $1 billion to raise employees’ wages and give them extra training, has been cutting the number of hours some of them work in a bid to keep costs in check.
Regional executives told store managers at the retailer’s annual holiday planning meeting this month to rein in expenses by cutting worker hours they’ve added beyond those allocated to them based on sales projections.
CEO Doug McMillon says that increased costs have nibbled in on earnings.
It was ever thus, you clueless, spineless pointy-heads