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Walmart CEO Doug McMillon on wages

Walmart CEO Doug McMillon says employees should be rewarded for their work.

Video Transcript

DOUG MCMILLON: Well, behavior patterns have changed and people aren't spending money as much to travel and take vacations and do some of the other things that they would have been doing. So some of that is impacting retail and the categories that we sell.

I think the lack of stimulus is showing up more so with those that have been unemployed, small businesses, people that really need help. I think it's important that we all understand, in some ways we're having a shared experience because we're all in a pandemic together, but in other ways we're having a very different experience.

If you have been let go and you haven't had income, you really do need some help. And so what we've been saying, both through the voice we have at Walmart and out of Business Roundtable, is to say to Congress and the administration, we need you to help those people that need help.

There are some industries, the airline industry, for example, lodging, that need targeted, specific assistance and it's important that that happen. But this country is so driven by small business that small business in particular, and families that are disadvantaged, need help in a way that some of the rest of us don't. And we'd like to see that happen as soon as possible.