Wal-Mart plans $61.4M spend on Mo. workers

As part of a plan to invest $2.7 billion into its U.S. workforce over the next two years, Wal-Mart Stores Inc. (NYSE: WMT) is spending $61.4 million to raise wages for Missouri workers.

The Arkansas megaretailer plans to give raises to 43,200 Missouri workers by February. The full-time average hourly wage in Show-Me State stores would rise to $13.18, while part-time workers would see their hourly wages move up to $10.52, according to a news release.

In February, Wal-Mart plans to raise wages for associates hired before Jan. 1 to at least $10 an hour - $2.75 above the the federal minimum wage. Those hired after Jan. 1 would start at $9 an hour and move to at least $10 after undergoing training.

Wal-Mart, which posted fiscal 2015 revenue of $485.7 billion, employs 2.2 million workers worldwide. The company operates over 11,500 stores in 28 countries and e-commerce websites in 11 countries, according to the release.