Walmart launches subsidized college education program
Walmart Inc. said Wednesday that it has launched a higher-education program in partnership with Guild Education that will offer the retailer’s workers associate’s and bachelor’s degrees in business or supply chain management. Degrees will be offered through the University of Florida, Brandman University and Bellevue University. Walmart estimates the contribution from their workers at the equivalent of $1 per day. The retailer will subsidize the cost of tuition, books and fees. Charlie O’Shea, Moody’s lead retail analysts, calls the program one more way that Walmart is investing in its employees. “In combination with increased pay, training, and improved career opportunities, Walmart is recognizing the positive impact across the board of a stable workforce, and increases the pressure on other companies inside and outside of retail as this heats up the competition for quality employees,” he wrote. Walmart shares are down nearly 15% for the year to date while the Dow Jones Industrial Average is up nearly 2% for the period.