Wal-Mart raised manager salaries to a minimum of $48,500 to get a head start on compliance with the Labor Department’s overtime rule, a company spokesman told Bloomberg BNA.
Under the rule, which takes effect Dec. 1—the first week of the post-Thanksgiving holiday shopping season—workers earning below $47,476 are eligible for time-and-a-half pay when exceeding 40 hours in a workweek. Wal-Mart Stores Inc., the nation’s largest employer, decided it would rather incur higher payroll costs now than begin to track hours and potentially pay time-and-a-half to managers during such a busy time of year.
The DOL rule more than doubles the...
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