The DealBook newsletter delves into a single topic or theme every weekend, providing reporting and analysis that offers a better understanding of an important issue in the news. Walmart announced last month that it was raising pay for some of its lowest-wage workers. Investors responded by pummeling its shares, sending them down by more than 6 percent on the day. That wasn’t quite as bad as in 2015, when the retailer’s stock dropped 10 percent after it said a wage increase would cut into profits. Half of Walmart’s hourly staff, or about 730,00 workers, still make less than $15 per hour after the latest increase went into effect last week.

Source: New York Times March 20, 2021 12:00 UTC