WALMART ANNOUNCES SPECIAL CASH BONUS TO KEEP UP WITH PANIC SALES
Walmart 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 US$ 300 for full-time hourly associates and US$ 150 for part-time hourly associates and will add up to more than US$ 365 million. Every hourly associate employed by the company as of March 1 will qualify, and it will payout 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 US$ 180 million.
Overall, it amounts to nearly US$ 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. We want to reward our associates for their hard work and recognize them for the work that is in front of us,” said Doug McMillon, President and CEO, Walmart.
NORDSTROM TO CLOSE ALL US STORES
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