Sept 30 (Reuters) – Walmart Inc (WMT.N) said on Saturday it would simplify job titles among the company’s employees to ensure it remains competitive.
“We are updating our approach to campus office jobs to ensure we remain competitive in today’s environment, better reflect the work being done today, while simplifying job titles across our campus office roles,” a Walmart spokesperson said in a statement. .
The retailer said that while some employees will have a new job title, their roles, responsibilities, type of work and base salaries will not change.
Corporate employees at Walmart and Sam’s Club, its warehouse chain, will be reclassified into potentially lower title groups and, in some cases, pay changes will take effect, starting in November.
Employee stock option awards will remain the same or even increase in many cases. Walmart said about 4% of employees will see their stock option awards reduced to ensure compensation is consistent across geographies.
Employees who will see a decrease in their stock options will receive a stock grant to account for the change.
The Wall Street Journal, which first broke the news, quoted Kim Lobo, Walmart’s head of global total rewards, as saying the change is “good compensation hygiene” and ensures Walmart “appropriately rewards similar levels of work.”
Earlier this month, Walmart changed its starting hourly pay structure for entry-level store workers. The change means store workers, including cashiers, personal shoppers, salespeople, self-checkout assistants and assistants in departments such as sporting goods or electronics, will all receive the same starting hourly wages paid in the store, rather than at different levels previously.
(Reporting by Gursimran Kaur and Gopi Babu in Bengaluru; Preparing by Muhammad for the Arabic Bulletin) Editing by Andrea Ritchie and Margarita Choi
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