Walmart to Raise Wages, Provide One-Time Bonus and Expand Hourly Maternity and Parental Leave for Associates in Florida
January 23 2018 - 6:00AM
Business Wire
More than 1 million associates benefit from
combined wage and benefit changes, including more than 67,500
Walmart associates in Florida
Recently, Walmart announced plans to increase the starting wage
rate for all hourly associates in the U.S. to $11, expand maternity
and parental leave benefits and provide a one-time cash bonus for
eligible associates of up to $1,000. The company is also creating a
new benefit to assist associates with adoption expenses. The
combined wage and benefit changes will benefit the company’s more
than one million U.S. hourly associates, including more than
67,500 Walmart associates in Florida.
“We are building on investments we’ve been making in associates,
in their wages and skills development,” said Doug McMillon, Walmart
president and CEO. “It’s our people who make the difference and we
appreciate how they work hard to make every day easier for busy
families.”
Associates will continue to hear more from their
managers in the coming days about details. But,
broadly, associates in the U.S. are receiving the
following benefits:
- More than 67,500 Walmart and Sam’s
Club associates in Florida will soon receive wage increases and
bonuses totaling nearly $105.7 million.
- A one-time bonus benefiting all
eligible full and part-time hourly associates in the U.S. The
amount of the bonus will be based on length of service, with
associates with at least 20 years qualifying for $1,000. In
Florida, more than 67,500 Walmart and Sam’s Club associates are
expected to be eligible for the one-time cash bonus, which is
estimated to total more than $27 million.
- An increase in Walmart’s starting wage
rate to $11 an hour, effective in the Feb. 17, 2018, pay cycle. The
change is in addition to wage increases already planned for many
U.S. markets in the coming fiscal year. The increase applies to all
hourly associates in the U.S., including stores, Sam’s Clubs,
eCommerce, logistics and Home Office. More than 49,500 Walmart and
Sam’s Club associates in Florida are expected to receive a wage
increase, which is estimated to total more than $78.5 million.
Walmart’s new average hourly wage for full-time associates in
Florida will be $14.04.
- An expanded parental and maternity
leave policy, providing full-time hourly associates in the U.S.
with 10 weeks of paid maternity leave and six weeks of paid
parental leave. Salaried associates will also receive six weeks
of paid parental leave.
- Walmart will provide financial
assistance to associates adopting a child. The adoption benefit,
available to both full-time hourly and salaried associates, will
total $5,000 per child and may be used for expenses such as
adoption agency fees, translation fees and legal or court
costs.
"We commend Walmart for their commitment to their hard working
and dedicated associates. Florida's retailers are responsible for
one out of every five jobs, and these pay raises will have a
significant impact on thousands of Florida families and their local
economies, and will help to support and enhance our state's retail
industry,” said R. Scott Shalley, President/CEO Florida Retail
Federation.
About Walmart
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world
save money and live better - anytime and anywhere - in retail
stores, online, and through their mobile devices. The company’s
legal name will become Walmart Inc., effective on Feb. 1, 2018, to
reflect its growing status as an omni-channel retailer. Each week,
over 260 million customers and members visit our more than 11,600
stores under nearly 60 banners in 28 countries and eCommerce
websites. With fiscal year 2017 revenue of $485.9 billion, Walmart
employs approximately 2.3 million associates worldwide. Walmart
continues to be a leader in sustainability, corporate philanthropy
and employment opportunity. Additional information about Walmart
can be found by visiting http://corporate.walmart.com, on Facebook
at http://facebook.com/walmart and on Twitter at
http://twitter.com/walmart.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180123005569/en/
Wal-Mart Stores, Inc.Christina Morton, APR,
407-608-5905Christina@onmessage.com
Walmart (NYSE:WMT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Walmart (NYSE:WMT)
Historical Stock Chart
From Apr 2023 to Apr 2024