Wal-Mart to pay $33 million in overtimePosted: Updated:
(AP) -- Wal-Mart will pay $33 million in back wages to thousands of employees. It had turned itself in to the Labor Department for paying too little in overtime, according to the agreement announced by the government.
Department official Steven Mandel says the case, involving nearly 87,000 employees, resulted from Wal-Mart coming to the department in early 2005 and asking for a review of its overtime calculations.
Mandel says the settlement is one of the largest ever reached by the department's wage and hour division. The national review of all Wal-Mart stores took place over two-years beginning in February 2005.
A federal judge in Arkansas, the retailer's home state, approved the settlement today. The highest award to an individual employee is said to have been about $39,000.
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