Walmart to invest $428M in workers with new round of bonuses, stores to close Thanksgiving Day
This marks the third special bonus Walmart has given to associates this year
Walmart announced on Tuesday that employees will receive another special bonus for their "ongoing contributions and dedication" during the coronavirus pandemic.
Full-time hourly associates will receive $300 and part-time hourly and temporary associates will be paid $150, the retailer said. Drivers, managers and assistant managers within its stores, clubs, distribution and fulfillment centers and its health and wellness centers will also receive a bonus, although Walmart did not specify an amount.
WALMART ISSUES THIRD CORONAVIRUS BONUS TO US WORKERS
Walmart said the total amount it is spending on this round of bonuses is about $428 million.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 88.38 | +1.19 | +1.36% |
“Our associates have been working at an incredible pace, they’ve solved problems, and they’ve set an amazing example for others,” John Furner, the chief executive of Walmart U.S., said in a statement. “To further appreciate their incredible work, we are pleased to share another special cash bonus this summer.”
(Walmart)
Associates, excluding salaried office associates, that have been employed by the company as of July 31 will qualify.
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The bonus will pay out on Aug. 20, the company said. This marks the third special bonus Walmart has given to associates this year, totaling $1.1 billion in bonuses so far this year.
Walmart also said it will close its U.S. stores on Thanksgiving Day.
“We know this has been a trying year, and our associates have stepped up. We hope they will enjoy a special Thanksgiving Day at home with their loved ones,” said Furner. “We are certainly thankful to our people for all of their efforts.”
Store hours on Black Friday -- which falls on Nov. 27 this year -- will be released at a later date, Walmart said.