Walmart is changing its starting pay structure for certain new hires amid a slowing job market.
All new hires are now being paid the same hourly starting wage barring a few exceptions, according to Walmart.
Previously, newly hired personal shoppers and stockers had been given a higher starting wage, but now wages are consistent across the store except for those who work in the deli, bakery and auto care centers, Walmart said.
Those roles will still receive higher starting pay given that it takes a higher skill level, according to Walmart.
A Walmart in Atlanta, Georgia, on Feb. 19, 2023. (Photographer: Dustin Chambers/Bloomberg via Getty Images / Getty Images)
Walmart said this change does not result in any pay cuts to current employees. Its minimum starting wage will also remain at $14. However, starting wages differ depending on where the store is and can be as high as $19, the company added.
Walmart spokesperson Anne Hatfield said in a statement that making starting pay consistent "results in consistent staffing and better customer service."
A Walmart location on 2844 North Broadway Street ahead of permanently closing in Chicago, Illinois, US, on Wednesday, April 12, 2023. (Christopher Dilts/Bloomberg via Getty Images / Getty Images)
Still, the move comes as companies try and lower their overhead amid the cooling job market.
U.S. job growth continued at a moderate pace in August while the unemployment rate unexpectedly jumped, a sign that the labor market is finally cooling in the face of rising interest rates and chronic inflation.
FOX Business' Megan Henney contributed to this report.