- Walmart Inc WMT has raised the starting pay for the drivers of Walmart Private Fleet to $110,000 a year.
- The retail giant employs about 12,000 long-haul truck drivers under its fleet.
- The move comes amid a shortage of drivers that threatens to prolong supply chain snarls and merchandise shortages, Reuters reported.
- "We're proud to announce pay raises to ensure Walmart remains one of the best companies in the world to drive for," the company stated.
- Walmart's 12-week private fleet development program enabled supply chain associates in the Dallas, Texas, and Dover, Delaware, areas to earn their commercial driver's license (CDL) and become full-fledged Private Fleet Walmart drivers.
- Price Action: WMT shares closed higher by 1.02% at $156.57 in premarket on the last check Friday.
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