Walmart Hands Out $200M in Bonuses to 900,000 Workers

by Talk Business & Politics ( 76 views 

The second quarter was kind to U.S. hourly associates of Wal-Mart Stores Inc.

The Bentonville-based retailer gave over $200 million in bonuses to more than 900,000 hourly employees in the United States during its second quarter, according to a company news release on Wednesday.

The bonuses were based on store performances between May and July and part of an overall incentive plan that was established to reward employees whose stores have met performance and customer service goals. Workers can earn the bonuses four times a year.

“Whether it’s buying something for their kids, treating themselves or saving for something great, bonus time at Walmart is always a special time for our associates,” Mike Moore, executive vice president of Supercenters for Walmart U.S., said in the release.

The second-quarter bonuses are not part of the two-year $2.7 billion investment in its employees that Walmart announced in 2015, the release shows.

“Our people have always been the most important part of our business, and they continue to do amazing things for our customers,” Julie Murphy, executive vice president of Neighborhood Markets for Walmart U.S., said in the release. “Sam Walton built this business on the idea of sharing profits with our associates and treating them as partners.”

On Aug. 18, the company reported an 8.6 percent increase in second-quarter earnings amid strong U.S. sales and positive e-commerce performance. Net income was $3.77 billion, or $1.21 per share for the quarter than ended July 31, up from $3.48 billion, or $1.08 per share, in the same period a year ago.

Walmart’s U.S. division reported net sales of $76.24 billion, up 3.1 percent. Sales at stores open at least a year rose 1.6 percent.