Walmart Announces More Than $700 Million in Additional Associate Bonuses, Tops $2.8 Billion in Total Cash Bonuses to Associates in 2020
BENTONVILLE, AR - Sales have been strong for the Walmart, and the retailer has decided to spread a little bit of that wealth. Walmart is putting its workforce in the spotlight with the announcement of more than $700 million in additional cash bonuses to its U.S.-based associates, bringing the retailer’s 2020 cash bonuses for its associates to over $2.8 billion.
“As we come to a close on this historic year, I’m filled with gratitude for how our associates have led through one of the most trying periods for our company and country,” John Furner, President and CEO, Walmart U.S. “Our associates have stepped up to serve our customers, communities, and each other when it was truly needed most, and we’re pleased to recognize their efforts with a quarterly bonus for strong store performance and a fourth special cash bonus.”
According to the release, the company’s latest bonus announcement includes $319 million in quarterly bonuses paid via both full- and part-time associates’ November 25 paychecks following a strong third quarter business performance.
In addition, approximately 1.5 million full- and part-time Walmart and Sam’s Club associates working in the company’s stores, clubs, distribution centers, and fulfillment centers will receive the special cash bonus on December 24. It will be Walmart’s fourth special cash bonus paid to U.S.-based associates since the start of the pandemic and will bring Walmart’s total 2020 quarterly and special cash bonuses for its associates to more than $2.8 billion.
“This has been an extraordinary year, and we’re so proud of how our associates have continued to make a meaningful difference in our communities,” Kathryn McLay, President and CEO, Sam’s Club. “Today’s bonus reflects our appreciation for our associates, who show up to work each day to serve and provide relief for millions of members across the country.”
The bonus amounts will be similar to the previous three special cash bonuses Walmart has provided its associates during the pandemic; part-time and temporary hourly associates will receive $150 and full-time hourly associates will receive $300. More than 60 percent of Walmart’s hourly associates are full-time. Drivers, coaches, and assistant managers will also receive a special cash bonus.
Where will the retailer invest in next to continue promoting growth? ANUK will keep a pulse on the newswire.