Walmart CEO Calls Congress to Increase Minimum Wage

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"The federal minimum wage is lagging behind," Doug McMillon said at Walmart's annual meeting of shareholders in Bentonville, Arkansas on Wednesday.

McMillon said "it's time for Congress to put in place a thoughtful plan" to raise wages. It's the first time that he's pushing Congress to raise salaries nationwide, according to the company.

However, any plans to increase the minimum wage must take into account differences in the cost of living across the country "to avoid unexpected consequences," said McMillon. He also noted that a hike might have to be gradual in time.

McMillon defended Walmart's efforts to raise wages, expand benefits and train its 1.5 million American workers in recent years. The company has steadily increased its minimum wage to $ 11 an hour more than a year ago. That's gone up 50% over the last four years, said McMillon.

McMillon added that Walmart was paying more than $ 11 in some markets to "recruit and retain the talent we need to run a good business."

In a ballroom near the Walmart headquarters in Bentonville, Sanders asked the world's largest retailer to raise his wages and called McMillon for a total salary of nearly $ 24 million last year. . Sanders also introduced a shareholder resolution that would put hourly workers on the Walmart board of directors. The resolution was rejected on Wednesday.

"Walmart pays a lot of starvation wages to its employees," Sanders said Wednesday. "Walmart can afford to pay its employees a minimum wage of at least $ 15 an hour."

Sanders pointed out that Walmart's major competitors, such as Amazon (AMZN) and Costco (COST), have gone to a minimum wage of $ 15 at the hour.

Corporate America has changed its position on the minimum wage in recent months. McDonald's, for example, announced in March that it would no longer be lobbying against minimum wage increases. And in addition to raising its minimum wage, Amazon has challenged its major competitors in the retail sector to align its transfer rate to $ 15 an hour.

Sanders and organizations like Fight for $ 15 have successfully lobbied some companies to raise their minimum wage. Amazon's rise of up to $ 15, for example, took place after the company was criticized by critics, including Sanders.

Dreama Lovett – who works at a Walmart in Jacksonville, Florida and who went to the shareholders' meeting – said she was struggling to afford to pay her bills. She said that she had been working in the business for three years and that she was earning just over $ 11 at the hour.

"We are breaking our back every day for Walmart," she said. "If you earn $ 11 an hour, can you imagine trying to pay your rent and your bills with that?"

At Bentonville's Wednesday meeting, shareholders also discussed other issues, including a resolution that would have strengthened Walmart's policies on sexual harassment. They voted against it.

Backed by polling consultancy Glass Lewis, Walmart said it has put in place strict procedures to fight sexual harassment. The company said its training and education programs educate people about these policies and how workers can report their concerns in a confidential manner.

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