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Walmart Introduces Annual Bonuses for 700,000 Hourly Workers

The new bonus program, based on store performance and tenure, aims to boost wages and reduce turnover.

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Employees organize inventory as they are unloaded from a delivery truck at a Walmart store in Grand Prairie, Texas, US, on Thursday, April 25, 2024. In an effort to boost retention, Walmart has sweetened pay and stock incentives for its store managers, whose individual locations employ hundreds and can exceed $100 million in annual sales. Photographer: Shelby Tauber/Bloomberg via Getty Images

Overview

  • Both part-time and full-time associates are eligible for bonuses up to $1,000 annually.
  • Eligibility requires a minimum of one year of employment and is tied to store performance targets.
  • Walmart's initiative includes a certification program to transition workers into higher-paying technician roles.
  • The company has increased its average hourly wage by 30% over the past five years to nearly $18.
  • Walmart aims to fill high-demand roles and address worker shortages with training and career advancement opportunities.