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Walmart To Spend Another $428m On Employee Bonuses

Published on Jul 23 2020 6:59 AM in Retail tagged: Trending Posts / Walmart / Bonus / World News / COVID-19

Walmart To Spend Another $428m On Employee Bonuses

Walmart Inc said it would spend another $428 million (€369 million) on bonuses this year, to compensate its US employees for catering to a surge in demand for essential goods during the COVID-19 pandemic.

The United States' largest employer said the new spending brings the total expenditure on employee bonuses to $1.1 billion this year.

Walmart, like other essential retailers, has seen a spike in demand for groceries and has had to add hundreds of thousands of new hourly workers to keep up.

However, those costs as well as the expenditure to keep stores operating safely have pressured its profit margins.

The company said full-time hourly employees will get a $300 bonus, while part-time and temporary employees will get $150, adding that drivers, managers and assistant managers will also receive a bonus.

The world's largest retailer also said it would close its own and Sam's Club outlets on Thanksgiving day this year.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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