Walmart Unveils a New Employee Perk: College Tuition

Walmart announced Wednesday that it will start subsidizing the cost of higher education for its employees who have yet to earn a college degree, reports CNBC . Effective immediately, they will be able to enroll and study at either the University of Florida, Brandman University, or Bellevue University. To make this possible, the nation's largest private employer is partnering with Guild Education, a tuition reimbursement and education platform that helps big employers extend education benefits to their workers. News of this program comes as many businesses in the United States face a tighter labor market, and competition for the best talent is intensifying. Such chains as Chipotle and Starbucks have begun offering similar education perks to get workers to remain longer.