Wal-mart to Issue $1-A-Day College Play
Wal-mart Stores, Inc. (WMT) is a worldwide retailer that operates in various formats. The three segments of the company include Wal-mart U.S., Wal-mart International, and Sam’s Club. The company is comprised discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, apparel stores, drug stores, convenience stores, and membership-only warehouse clubs; and retail Websites.
The trend of enhancing company compensations has hit Wal-mart. The retail store is testing the waters of the employee education pool with the $1-a-day college tuition discount plan. Wal-mart expects that nearly 68,000 employees would enroll in the new college tuition plan over the course of the program’s first five years. Employees would have three universities to choose from as part of the program. The three universities include the University of Florida, Brandman University, and Bellevue University. The schools were chosen to be a part of the program because of their high graduation rates especially among their part-time students, and the experience the schools have with those already part of the workforce.
The tuition plan is set up that employees will have to focus on bachelor’s or associate degree in either business or supply-chain management. The workers registered in the program would not be required to pay for their education upfront and seek reimbursement later.
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