Some more coverage of yesterday’s announcement by Wal-Mart that they will be capping pay at their stores now. First from the Los Angeles Times (see: Wal-Mart to Raise and Limit Wages):
Wal-Mart is instituting the salary caps to encourage workers to move up through the ranks rather than remain in the same job for years. Employees who earn more than the maximum amount for their job won’t see a salary decrease but will no longer be entitled to raises unless they change positions.
The company also said it was increasing performance-based pay raises but declined to say by how much. Overall, the moves will not increase the company’s labor costs, Simley said, nor will they result in price increases.
Critics said Monday’s announcement did little to change the fact that Wal-Mart pays below the national averages for retailers and has consistently fought efforts to boost workers’ standard of living.
Chris Kofinis, of the union-backed group WakeUpWalMart .com, said the salary caps were little more than an effort to get rid of higher-paid veteran employees. “This is a determined attempt to push full-time workers out of this company, and they should be ashamed of themselves.”
And more from the mentionted WakeUpWalmart (see: No Careers Here) and The Writing on the Wal (see: Wal-Mart CAPS Worker Wages. Media Swallows Cover Story).