Walmart's 1.4 million employees will now have the option of
The giant retailer teamed up with fintech start-up Even, an app that allows workers to access cash before their next payday. The app helps users budget their money by telling them exactly how much they can spend before their next paycheck arrives.
The idea is to help employees avoid payday loans and feel less worried about cash flow, Walmart COO Judith McKenna told the New York Times.
Critics say the move is a sign that Walmart doesn't pay enough. But the problem may be bigger than that: As Michael Corkery of the Times points out, the new service "highlights, albeit unwittingly, the financial struggles of the low-wage workers in the retail and service industries. Even as the economy strengthens, many workers in stores and restaurants are not earning enough to make ends meet."