Walmart Associates in California To Receive Approximately $34 Million in Cash Bonuses
March 08 2018 - 5:10PM
Business Wire
California bonuses are portion of more than
$560 million earned nationwide in Q4 performance-based bonuses and
tenure-based one-time cash bonuses
Today, more than 890,000 Walmart U.S. associates, including more
than 136,000 in California, are receiving a share of more than $560
million total cash bonuses, including:
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Walmart Associates in California To
Receive Approximately $34 Million in Cash Bonuses (Graphic:
Business Wire)
- More than $160 million in cash bonuses
based on their stores’ Q4 performance, and
- More than $400 million in one-time cash
bonuses tied to recent changes in tax law.
- In California, Walmart associates are
receiving approximately $34 million in combined bonuses.
The bonuses, along with an annual pay raise for our hourly field
associates, are included in their March 8 paycheck. Between Q4
performance bonuses, tenure-based bonuses, pay increases and recent
paid time off (PTO) cash outs, more than $1 billion flowed to U.S.
hourly associates during the months of February and March.
In January, Walmart announced plans to increase the starting
wage for all hourly associates in the U.S. to at least $11, expand
maternity and parental leave benefits, and provide a one-time cash
bonus for eligible associates of up to $1,000. A new adoption
assistance benefit of $5,000 per child – announced in conjunction
with the other changes – went into effect on February 1.
"Walmart's continued investment in people will keep their
workforce strong but will also strengthen hundreds of California
communities," said Bill Dombrowski, President and CEO of the
California Retailers Association. "Walmart's initiative will
directly impact the daily lives of tens of thousands of
Californians."
Walmart associates earn quarterly bonuses as part of an overall
incentive plan designed to reward associates whose stores achieve
sales and customer service goals. Hourly associates in California
earned more than $6.6 million following Q4 comp sales of 2.6
percent in Walmart U.S.
- For the full fiscal year, U.S.
associates shared more than $625 million in performance-based
bonuses, including more than $68 million shared by California
associates.
- Walmart also recently cashed out to
associates more than $300 million in unused paid time off
(PTO).
"Our associates work tremendously hard to make every day easier
for busy families and today we celebrate how much we value their
effort," said Angela Wilson, a regional general manager for Walmart
in California. "It was important to us that we further build upon
the investments we have been making in wages and skills development
with family friendly benefits, and we will continue to invest in
our associates and their futures."
Walmart in California
Walmart’s recent pay raises are just one part of the company’s
local investment and impact. In California, the company:
- Operates 304 retail units (as of Sept.
2017)
- Spent $24.5 billion with local
suppliers, supporting 212,055 supplier jobs in 2017.*
- Paid more than $344 million in taxes
and collected more than $1.1 billion in sales taxes in 2017.
*Information supplied by Dunn & Bradstreet
About Walmart in California
Walmart 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. 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. In
California we serve customers at 304 retail units and online
through Walmart Grocery Pickup, Walmart.com and Jet.com. We are
proud to employ more than 93,105 associates in California. Walmart
supports local businesses, spending $24.5 billion with California
suppliers in FY17, which supported 212,055 supplier jobs. Learn
more at the Walmart Today blog, and our Facebook, Twitter,
Pinterest, Instagram channels.
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version on businesswire.com: http://www.businesswire.com/news/home/20180308006382/en/
For Walmart Inc.Becky Warren,
916-607-0129becky@elevatepublicaffairs.com
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