EconomyMarkets

Walmart to spend more than $700 million on new round of employee bonuses By Reuters

© Reuters.

(Reuters) – Walmart (NYSE:) Inc said on Thursday it would spend more than $700 million on bonuses as the retailer compensates its U.S. employees for helping meet a surge in demand for essential goods during the COVID-19 crisis.

The company, like many supermarket chains, was pushed to hire hundreds of thousands of new hourly workers during the pandemic, incurring billions of dollars in costs to keep stores operating safely.

Walmart, which is also the largest employer in the United States, said the additional spending brings the total 2020 quarterly and special bonuses to more than $2.8 billion.

The latest bonus announcement includes $319 million in quarterly bonuses paid in November and about $388 million in special cash bonuses to be paid to full-time and part-time associates later this month.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button