6/7/2023 0 Comments Isbn pdf search walmartYet he also asks a critical question: is it enough? With a still-simmering public debate around the minimum wage and widespread movements by workers demanding better treatment, how far will $12 an hour go in today's economy? Or even $15? Or Walmart’s average wage, which now hovers above $17-but, even so, doesn’t pencil out to so much as $32,000 a year for a fulltime worker? In Still Broke, award-winning author Rick Wartzman goes inside the company's transformation, showing in novelistic detail how the company has gotten to where it is. By undertaking such large-scale change without a legal mandate to do so, Walmart has joined a number of major corporations that say they are dedicated to practicing a new, socially conscious form of capitalism. With internal and external threats to its business looming, the company began to change directions in 2005-a transformation that accelerated in 2014, with the arrival of CEO Doug McMillon. Most notably, its starting wage has risen from $7.25 to $12, and employee benefits have improved. It has become an environmental leader among businesses, and has taken many other steps to use its immense scale to have a positive social impact. Today, while Walmart remains America's largest employer, the picture is very different. factories and moving production overseas and, above all, not taking adequate care of its own employees, who were paid so little that many wound up on public assistance. Walmart was accused of wiping out mom-and-pop businesses across the country ruthlessly pressuring suppliers to cut costs, even if it meant closing up U.S. But with this dominance came a suite of ethical concerns. By offering incredibly low prices, it had come to dominate the retail landscape. How America’s biggest company began taking better care of its workers–and why such efforts will never be enough.įifteen years ago, Walmart was the most controversial company in America.
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