Walmart Paying More Than $700 Million in Additional Associate Bonuses
December 03 2020 - 10:00AM
Dow Jones News
By Dave Sebastian
Walmart Inc. said it is paying more than $700 million in cash
bonuses to its associates in the U.S., bringing its total bonus
amount paid to about $2.8 billion this year as the Covid-19
pandemic caused a shift in shopping habits.
The additional bonuses comprise $319 million collectively in
quarter paid in Nov. 25 paychecks and an estimated $388 million in
special cash bonuses to be paid Dec. 24, Walmart said Thursday.
About 1.5 million associates working in the company's stores,
clubs, distribution centers and fulfillment centers will receive
the Dec. 24 bonus, Walmart said.
Part-time and temporary hourly associates will get $150 in
special bonus, while full-time associates will get $300. More than
60% of the company's associates are full-time, it said.
Walmart also extended its Covid-19 leave policy to July 5, 2021.
Under the policy, associates could get two weeks of pay if they
need to stay home for Covid-related reasons such as mandatory
quarantines, symptoms or illness. The company could provide
additional pay replacement if the workers aren't able to return to
work after the two weeks, it said.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
December 03, 2020 09:45 ET (14:45 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Walmart (NYSE:WMT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Walmart (NYSE:WMT)
Historical Stock Chart
From Apr 2023 to Apr 2024