Starting in November, many corporate workers at Walmart and Sam’s Club, its warehouse chain, will be reclassified into fewer groups of possible titles and pay.
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Base pay and total bonus benefits won’t fall for any workers. Around 4%, or 2,000, will receive an eventual reduction in stock-option awards as part of the change, the report added.
The company is making the changes because its corporate roles have become more varied over the past decade through acquisitions and new lines of business such as advertising, Kim Lupo, head of global total rewards for Walmart told the journal.
Earlier this month, Walmart changed the hourly starting wage structure for entry-level store workers. The change meant that store workers including cashiers, personal shoppers, stockers, self-checkout helpers and associates manning departments such as sporting goods or electronics would all receive the same hourly starting wages that are paid at the store, instead of different levels previously.
Walmart did not immediately respond to a request for comment.
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