Walmart, Once a Byword for Low Pay, Becomes a Case Study in How to Treat Workers

A decade ago, the largest private employer in the U.S., Walmart, increased its starting wage to $9 an hour. Raising the salaries of nearly half of its more than a million U.S. hourly workers made it the biggest pay raise in history. Investors reacted by sending Walmart shares down 10%, destroying $21.5 billion in market value in hours.

This fall, Walmart's experience will be published as a Harvard Business School case study-—as a success. Hundreds of executives from Blackstone, Bank of America and other firms traveled to Bentonville, Ark., recently to learn about Walmart's future workforce management and hear the...

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