The move won’t affect the 1.4 million current U.S. employees of the world’s largest retailer, only those hired after Jan. 1, spokesman Greg Rossiter told Bloomberg. The change will take effect at Walmart stores, Sam’s Club outlets and warehouses.
During the past six quarters, Bentonville, Ark.-based Walmart has been suffering from a decline in same-store sales (for stores open at least a year) in the U.S., while expenses have been rising. CEO Mike Duke, who stands to make $19.2 million in total compensation in 2010 according toForbes, has pledged to slow cost growth. One way is by trimming the discount retailer’s biggest expense — labor.