Walmart, the world’s largest retailer, is experiencing a shortage of truck drivers at a time when it is facing stiff competition from rivals including Amazon. That is why it will raise the annual wages of its truck drivers by $1,500. The wage translates into a one-cent-per-mile pay increase which will take effect in February. Walmart’s drivers will now earn 89 cents per mile on average - which is equivalent to a yearly salary of roughly $87,500. In the last calendar year, Walmart has seen its stock price fall from $110 per share to just over $96 (inset).

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