Wal-Mart Hammers Out Sweeping Wage and Hour Suits Settlement

December 24, 2008 (PLANSPONSOR.com) - Giant discount retailer Wal-Mart Stores, Inc. has announced a broad settlement agreement with plaintiffs' attorneys in 63 wage and hour class action lawsuits that will cost the company $352 million to $640 million.

A Wal-Mart Web site statement said the final amount of the payments will depend on the amount of claims submitted by employees in the various cases filed around the country over the last several years.

In the statement, Wal-Mart General Counsel Tom Mars said allegations leveled in some of the cases filed in part years "are not representative of the company we are today."

"Our policy is to pay associates for every hour worked and to provide rest and meal breaks," Mars continued in the statement. "This is a commitment we make to the more than 1.4 million associates who choose to work for Wal-Mart and serve our customers and members every day. We have worked hard to have the right communication, processes and systems in place to help us live up to this commitment."

In addition to the payment involved in the settlement, the company said it had also agreed to continue using "various electronic systems and other measures" to help it comply with wage and hour laws and its own internal policies.