07:45 AM EST, 01/23/2025 (MT Newswires) -- Walmart ( WMT ) is increasing pay for regional managers, with top performers now eligible to earn up to $620,000 annually, The Wall Street Journal reported Thursday, citing a company spokesperson.

The base salary for market managers, who are responsible for around 12 stores, will rise to roughly $160,000, while stock grants will reach $100,000, and bonuses will increase to 100% of the base salary, up from 90%, the newspaper said.

The company has reportedly been raising wages for store staff and managers to reduce turnover, with individual store managers now able to earn over $400,000 annually.

Meanwhile, Walmart ( WMT ) is reducing perks for corporate staff, including scaled-back healthcare plans from 2026, impacting under 1% of employees, WSJ added, quoting a spokeswoman.

Walmart ( WMT ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)