Walmart Inc's (NYSE: WMT) CEO Doug McMillon reportedly discussed changes in the company's hiring and employee retention.
Doug noted that the hiring situation has become more "normalized" following the unique challenges posed by the pandemic, according to a news report by CNBC.
McMillon explained that the previously tumultuous employment market has settled, allowing Walmart to staff its locations across the country effectively.
The company, employing around 1.6 million people in the U.S., took a significant step this spring by raising its minimum wage for store employees to $14 an hour. This increase followed a previous minimum wage of $12 an hour.
Walmart's decision to raise wages came amidst similar moves by its competitors.