Walmart Starts A New Bonus Program For Hourly Workers

America’s largest private-sector employer, Walmart, announced good news for its employees on Wednesday, June 5, 2024. Walmart is starting a new bonus program for its hourly workers, so they havc higher wages. 

Walmart shared that those who have been working with the company for at least a year or more are eligible for this program. The company also mentioned that full-time employees, working with them for less than five years would also get an annual bonus of $350. The amount of bonus would differ according to the employee’s seniority. 

Walmart said it has increased hourly wages by around 30% in the last five years. Now, Walmart’s average US hourly wage ranges between $14 and $19, depending on the store and market situation. 

Walmart shared that around 1.6 million US citizens work in the company, and 1.5 million of them are hourly workers. The new bonus program covers 700k of those hourly workers. Walmart has also raised the average annual pay of its store managers by 9%. Now, their annual pay ranges from $117,000 to $128,000. In January, Walmart announced that managers can earn up to 200% of their pay as yearly bonuses depending on their store’s profits and sales. 

Last month, in May, Walmart reported a quarter of strong results as its low prices and discounts pulled a number of shoppers. The company’s profit jumped to $5.1 billion because of this, while it was $1.6 billion one year ago. The total revenue rose to $161.5 billion, which was $152 billion one year ago.

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