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Last night, Bloomberg LP President Dan Doctoroff called out Walmart CEO Mike Duke on a contradiction.
"You say that you're serving the emerging middle class," Doctoroff said at an event sponsored by the Council on Foreign Relations. "But some people might say that you're not paying your employees enough to lead a normal life."
Duke responded that he doesn't see a problem with how much he pays his 2.2 million employees worldwide. The average U.S. associate makes $8.81 an hour, according to an IBIS World report.
Walmart employs 1.4 million people in the U.S.
"I don't see tension between paying fair wages and making healthy profits and it's not an issue," Duke said. "Our associates are a great source of pride and personal inspiration for me."
Walmart workers have been striking for better pay, healthcare benefits and sick days. As Duke spoke at the Council of Foreign Relations in New York, a crowd of protesters stood outside criticizing his treatment of employees.
Duke said that all retail associates start with low wages.
"Retailing is the most competitive industry out there, and we do pay competitive wages," Duke said. "Every year we promote 175,000 people from entry-level to managerial positions."
Duke added that Walmart provides health insurance to 1 million people in the United States.
But he said he's used to all the criticism.
"With more success comes more responsibility and expectations from the public," Duke said. "So I'm thrilled to be in a position where people expect more of me."
Duke has been CEO since February 2009. According to Forbes, his compensation was $18.7 million last year.
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