Walmart will increase minimum wage for all employees to $14 per hour

• Walmart has notified store managers it's raising its minimum wage for store employees to $14 an hour in March, a source tells Insider.
• The Bentonville, Arkansas-based retailer's current minimum wage is $12 per hour.
• Check back with Insider for more updates.

Many Walmart workers are about to get a pay bump.

The Bentonville, Arkansas-based retailer told store managers in a phone call it is increasing its minimum wage for all workers to $14 an hour, a source familiar with the matter told Insider. The current minimum wage is $12 an hour.

A Walmart spokesperson did not immediately respond when called, emailed, and texted by Insider. A company spokesperson confirmed to CNBC Tuesday that the minimum wage would increase, and that store employees will make between $14 an hour and $19 an hour starting in March.

This story will update.