Walmart said Friday that more than 912,000 U.S. associates are receiving a share of nearly $207 million in cash bonuses for the retailer’s strong fourth-quarter performance.
It said the bonuses, which works out to an average of about $225 per employee, were included in checks that went out Thursday.
The announcement came more than two weeks after Walmart reported strong fourth-quarter earnings per share of $1.41, well above $1.33 per share expected by analysts. In addition, e-commerce sales grew by 43 percent in the quarter.
Walmart spent $400 million in fiscal 2018 to fund one-time bonuses for its workers thanks to new tax legislation.
In January 2018, Walmart announced that it was increasing its starting wage rate to $11 per hour, $4 below the rate sought by activists.
“We have been investing in our associates through pay increases, training, benefits and bonuses and it is really paying off,” said Kate Mora, a regional general manager for Walmart.
The bonuses are part of an incentive plan designed to reward employees whose stores “achieve sales and customer service goals,” the company said. For the full fiscal year 2018, U.S. Walmart associates received nearly $800 million in bonuses.
Be the first to comment