“These dollars will not go to employees and not go towards investing in more jobs.” – Sherrod Brown
Fox 8 Cleveland and Associated Press
Walmart associates in Cleveland and nationwide will be collectively receive millions of dollars in bonuses March 8.
According to a press release from WalMart, most associates will receive either a one-time $1,000 bonus or a bonus based on their store’s sales performance today.
Between Q4 performance bonuses, tenure-based bonuses, pay increases and recent paid time off (PTO) cash outs, more than $1 billion flowed to U.S. hourly associates during the months of February and March.
In January, Walmart announced plans to increase the starting wage for all hourly associates in the U.S. to at least $11, expand maternity and parental leave benefits, and provide a one-time cash bonus for eligible associates of up to $1,000.
A new adoption assistance benefit of $5,000 per child – announced in conjunction with the other changes – went into effect on February 1.
Walmart associates earn quarterly bonuses as part of an overall incentive plan designed to reward associates whose stores achieve sales and customer service goals.
- For the full fiscal year, U.S. associates shared more than $625 million in performance-based bonuses, including more than $85.5 million shared by Florida associates.
- Walmart also recently cashed out to associates more than $300 million in unused paid time off (PTO).