Walmart (WMT)
today announced plans to provide a special cash bonus for hourly
associates for their hard work and dedication to serving customers in a
time of an unprecedented national health crisis. The bonus is for all U.S.
hourly associates in stores, clubs, supply chain and offices. The bonus
will be $300 for full-time hourly associates and $150 for part-time
hourly associates and will add up to more than $365 million. Every
hourly associate employed by the company as of March 1 will qualify, and
it will pay out on April 2.
In addition to that special bonus for hourly associates, the company
will accelerate the next scheduled quarterly bonus for store, club and
supply chain associates a month early. When it pays out in late April,
it will help provide more cash in hand for associates sooner. The
company will pay those bonuses as if the company achieved its first
quarter plan. At the regularly scheduled time for bonus payout in May,
that amount may increase for associates based on performance. In no case
will an eligible associate receive less than the first quarter plan
bonus payment. The early payout will add up to $180 million.
Overall, it amounts to nearly $550 million going into associates’
pockets and the economy at this important time. Hourly Q4 bonuses were
paid this week, meaning hourly associates will receive bonus payments on
March 19, April 2, April 30 and May 28.
“Walmart associates have gone above and beyond the call of duty in
serving our customers during these unprecedented times,” said Doug McMillon,
President and CEO, Walmart. “We want to reward our associates for their
hard work and recognize them for the work that is in front of us.”
Additional hiring
Walmart has a steady workforce of full-time and part-time workers
helping meet the everyday needs of its customers. As part of responding
to the current environment, Walmart is also hiring 150,000 new
associates through the end of May to work in stores, clubs, distribution
centers and fulfillment centers. These roles will be temporary at
first, but many will convert to permanent roles over time. We’ve reached
out to industry groups representing restaurants and hospitality to
facilitate temporary roles that can be a bridge for their employees
during this difficult time.
Walmart is also implementing a new process to dramatically expedite
hiring for key roles, such as cashiers and stockers. What is usually a
two-week application cycle will be reduced to a 24-hour process. Anyone
interested in applying should do so at careers.walmart.com.
This initiative is aimed at helping put Americans to work, while
helping Walmart better serve customers during this time of increased
demand.
https://seekingalpha.com/pr/17814453-walmart-announces-special-cash-bonus-and-early-payment-of-q1-bonuses-totaling-nearly-550
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