Walmart Announces Special Cash Bonus and Early Payment of Q1 Bonuses Totaling Nearly $550 Million for Hourly Associates
Company also shares plans to hire more than 150,000 hourly associates in the U.S.
BENTONVILLE, Ark., March 19, 2020 — Walmart today announced plans to provide a special cash bonus for hourly associates for their hard work and dedication to serving customers in a time of an unprecedented national health crisis. The bonus is for all U.S. hourly associates in stores, clubs, supply chain and offices. The bonus will be $300 for full-time hourly associates and $150 for part-time hourly associates and will add up to more than $365 million. Every hourly associate employed by the company as of March 1 will qualify, and it will pay out on April 2.
In addition to that special bonus for hourly associates, the company will accelerate the next scheduled quarterly bonus for store, club and supply chain associates a month early. When it pays out in late April, it will help provide more cash in hand for associates sooner. The company will pay those bonuses as if the company achieved its first quarter plan. At the regularly scheduled time for bonus payout in May, that amount may increase for associates based on performance. In no case will an eligible associate receive less than the first quarter plan bonus payment. The early payout will add up to $180 million.
Overall, it amounts to nearly $550 million going into associates’ pockets and the economy at this important time. Hourly Q4 bonuses were paid this week, meaning hourly associates will receive bonus payments on March 19, April 2, April 30 and May 28.
“Walmart associates have gone above and beyond the call of duty in serving our customers during these unprecedented times,” said Doug McMillon, President and CEO, Walmart. “We want to reward our associates for their hard work and recognize them for the work that is in front of us.”
Walmart has a steady workforce of full-time and part-time workers helping meet the everyday needs of its customers. As part of responding to the current environment, Walmart is also hiring 150,000 new associates through the end of May to work in stores, clubs, distribution centers and fulfillment centers. These roles will be temporary at first, but many will convert to permanent roles over time. We’ve reached out to industry groups representing restaurants and hospitality to facilitate temporary roles that can be a bridge for their employees during this difficult time.
Walmart is also implementing a new process to dramatically expedite hiring for key roles, such as cashiers and stockers. What is usually a two-week application cycle will be reduced to a 24-hour process. Anyone interested in applying should do so at careers.walmart.com. This initiative is aimed at helping put Americans to work, while helping Walmart better serve customers during this time of increased demand.
“We know millions of Americans who are usually employed at this time are temporarily out of work, and at the same time we’re currently seeing strong demand in our stores,” said McMillon. “We’re looking for people who see Walmart as a chance to earn some extra money and perform a vital service to their community.”
Today’s steps are in addition to last week’s announcement of a new COVID-19 emergency leave policy that provides support to associates if they are impacted by the coronavirus in the following ways: (1) if they are uncomfortable coming to work right now and choose to stay home (2) if they are part of mandated quarantines or (3) if they have a confirmed case of the virus.
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 265 million customers and members visit approximately 11,500 stores under 56 banners in 27 countries and eCommerce websites. With fiscal year 2020 revenue of $524 billion, Walmart employs over 2.2 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 corporate.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart.