USA: Walmart takes action before new overtime rule goes into effect
Walmart is upping some managers’ salaries in anticipation of the Department of Labor’s new overtime rule, scheduled to take effect Dec. 1, 2016.
The retailer, the nation’s private employer, raised salaries for entry-level managers from $45,000 to $48,500 annually, Reuters reported, with the increase going into effect in September. Under the new rule, employers are required to pay overtime to salaried workers earning less than $47,500 a year. The current threshold is $23,660 a year.
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The new rule is expected to make an additional 4.2 million workers eligible to receive time-and-a-half wages for each hour they put in beyond 40 a week.
Business groups, including the U.S. Chamber of Commerce and the National Retail Federation, and 21 states are trying to delay the implementation of the new overtime rule, with many groups saying employers are not prepared to deal with its compliance.
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