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Walmart would be the 42nd largest economy in the world. Here is what you should know about the brand and its CEO.

Business InsiderBusiness Insider
walmart truck trucker
  • Walmart is increasing its starting salaries for truck drivers.

  • The average starting annual salary for these drivers was about $87,500.

  • The company is increasing that number to between $95,000 and $110,000.

Walmart is changing its pay structure so that its drivers can earn up to $110,000 in their first year with the retailer as it tries to shore up its logistics capabilities with new investments.

The average starting salary for Walmart's truck drivers was $87,500. The range is between $95,000 and $110,000. Fernando Cortes, the company's senior vice president of transportation, and Karisa Sprague, its senior vice president of supply-chain people, wrote in a post that drivers who have been with Walmart longer can earn even more.

According to data from the US Bureau of Labor Statistics, Walmart's new starting pay range for truck drivers is nearly double that of the average driver.

The Arkansas-based retail giant is trying to set up more mechanisms to allow for internal promotion from its huge labor pool. Walmart has a total workforce of 1.6 million in the US.

Walmart launched its Private Fleet Development Program to establish a link between supply-chain jobs and trucking positions. The development program has classes for Walmart drivers. The inaugural classes graduated in Dallas and Delaware this year, with participants earning commercial driver's licenses and getting hired into Walmart's private fleet.

Walmart is trying to get more truck drivers. Several transportation companies gave new drivers bonuses as high as $15,000 last year, and the company offered an $8,000 sign-on bonus to truckers.

The American Trucking Association reported a shortage of over 80,000 truck drivers. The supply-chain crisis has spawned shortages and price hikes due to the fact that trucking capacity is a contributing factor.

The White House is trying to bring more truck drivers into the industry. The Trucking Action Plan helped push employment levels past pre-pandemic levels, according to President Joe Biden.

According to Insider, trucking companies have begun recruiting drivers at gas stations and convenience stores, as well as offering perks like luxury truck stops with masseurs and pet-bathing stations.

The original article is on Business Insider.

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