Walmart delivers new bonus pay, lifting total to $2.8B for 2020
The funds will be issued on Christmas Eve
Walmart is delivering an additional $700 million in cash bonuses to U.S. associates this holiday season for their "sustained commitment" during the coronavirus pandemic.
Roughly 1.5 million Walmart and Sam’s Club associates working in the company’s stores, clubs, distribution centers and fulfillment centers will be rewarded with another bonus right on Christmas Eve.
Full-time hourly associates will receive $300. Part-time and temporary hourly associates will receive $150. Other positions within the company such as drivers, coaches and assistant managers will also receive a special cash bonus, according to Walmart.
WALMART TO INVEST $428M IN WORKERS WITH NEW ROUND OF BONUSES, STORES TO CLOSE THANKSGIVING DAY
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This marks the fourth time the retail behemoth has doled out bonuses to employees for their hard work during the course of the coronavirus pandemic. Walmart says its total commitment is now more than $2.8 billion.
WALMART ISSUES THIRD CORONAVIRUS BONUS TO US WORKERS
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 92.50 | +0.62 | +0.67% |
The first portion of the $700 million was issued last month. The company sent out approximately $319 million in quarterly bonuses, which were added to associates’ Nov. 25 paychecks. The rest of the funds will be issued on Dec. 24.
John Furner, the CEO of Walmart's U.S. division, praised the associates for how they are handling one of the "most trying periods for our company and country."
"Our associates have stepped up to serve our customers, communities and each other when it was truly needed most," he said.
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