Walmart Inc. has announced another round of cash bonuses as its business continues to surge amid the pandemic.
The retail giant will pay out more than $700 million in additional cash bonuses to the 1.5 million full- and part-time employees working in Walmart and Sam’s Club stores, distribution centers and fulfillment centers. The new round, Walmart’s fourth special cash bonus paid to its US-based employees since the start of the pandemic, will bring its total 2020 quarterly and special cash bonuses to its hourly workers to more than $2.8 billion.
In addition, as the US hits new records for coronavirus hospitalizations and deaths, Walmart is extending its emergency leave policy for part- and full-time workers through July 5, 2021. The policy provides employees with up to two weeks of pay should they need to stay home for COVID-related reasons, including mandated quarantines, symptoms or illness. If they’re not able to return to work after that time, additional pay replacement may be provided for up to 26 weeks.
Walmart said the new round of bonuses includes $319 million in quarterly bonuses paid in employees’ November 25 paychecks following “strong third-quarter business performance” and an estimated $388 million in special cash bonuses to be paid December 24 in recognition of employees’ “sustained commitment to customers during the pandemic.”
Walmart’s US-based hourly associates are eligible for the latest special cash bonus. Similar to the chain’s previous three pandemic-related bonuses, part-time and temporary hourly associates will receive $150 and full-time hourly associates will receive $300. More than 60% of Walmart’s hourly associates are full-time. Drivers, coaches and assistant managers will also receive a special cash bonus.
“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,” said John Furner, president and CEO, Walmart US “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…” Chain Store Age