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Post by bot on Feb 20, 2014 2:22:53 GMT -5
Wal-Mart says it's 'neutral' on minimum wage NEW YORK (MarketWatch) -- Wal-Mart Stores Inc. spokesman David Tovar said on Wednesday that a Bloomberg article saying it's looking at supporting a hike in federal minimum wage is "not accurate." "We are not looking at supporting a federal minimum wage increase," Tovar said, adding the company has requested a correction from Bloomberg. "We've not taken a position on the various proposals and are not planning to. We are neutral." Bloomberg had cited Tovar as saying the company is breaking with trade groups and other businesses and quoted him as saying Wal-Mart is debating the impact of increased payroll costs against the potential benefit of increased consumer spending at its stores. In response to question on whether Wal-Mart is considering increasing minimum wage for its own workers, Tovar said Wal-Mart's wages are determined on a market by market basis. "We continue to look at them to remain competitive," he told MarketWatch, adding the company's average wage is nearly $12 an hour. A Bloomberg spokesperson declined to comment, except to say the newswire stands by its story. (Update to reflect Wal-Mart's comment.)
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