Wal-Mart looks to bump all workers' pay above minimum wage

Wal-Mart Stores Inc. plans to say goodbye to the minimum wage.

Company CEO Doug McMillon said Wednesday: “It is our intention over time that we will be in a situation where we don’t pay minimum wage at all."

The move would have a large influence on the minimum wage debate and put Wal-Mart in a wage-paying league with companies such as Costco Wholesale and Gap Inc., according to MarketWatch.

Only 6,000 of Wal-Mart 1.3 million U.S. employees are currently making the prevailing minimum wage, McMillon said.

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