Walmart Is Paying $428 Million in a Fresh Wave of Bonuses
After seeing its comparable-store sales jump by 9.7% and its net income rise by 3.9% in its fiscal Q1, retail titan Walmart (NYSE: WMT) announced on Tuesday that it plans to distribute another $428 million in bonuses to its employees. According to the press release, the extra pay, coming on top of previous bonuses to frontline workers during the COVID-19 pandemic's earlier stages, will boost its total 2020 extraordinary cash incentives to $1.1 billion.
The latest round of coronavirus bonuses, the third, will be paid on Aug. 20, with part-time, temporary, or hourly employees receiving $150 each, and each full-time worker getting a $300 payment. To qualify, workers need to be employed by Walmart on July 31. Managers and drivers will also receive some cash.
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Source Fool.com
