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How Walmart Can Provide Thanksgiving for Its Own Workers

Yahoo Finance

Walmart is coming under fire for shortchanging its own employees.

The Cleveland Plain Dealer reported that an Ohio Walmart held a holiday food drive for its own employees—news which actor/producer Ashton Kutcher publicized on Twitter, setting off a Twitter debate with the world’s largest employer. [...]

Walmart is the largest private employer in the U.S. with 1.3 million workers. Average full-time pay for a Walmart worker: $12.83 an hour. (Walmart does not disclose the number or percentage of full-time vs. part-time workers)

Walmart could pay its employees more if it spent far less on stock buybacks, according to a new report from Demos, a nonprofit public policy organization working for greater political and economic opportunities.

Amy Traub, one of the authors of the report called A Higher Wage Is Possible: How Walmart Can Invest in Its Workforce Without Costing Customers a Dime, told The Daily Ticker that Walmart spent $7.6 billion on share buybacks in 2012 alone.

“If they were to redirect [that] and invest in their own workforce…they could give their low-wage employees a raise of almost $6 an hour each…that would be huge," she says.

She says the Wal-Mart model “isn’t working so well for Wal-Mart these days,” as evidenced by several quarters of declining same stores sales. “Workers across the economy don’t have enough money to shop even at Wal-Mart,” she says.

Read moreA Higher Wage Is Possible