Walmart is showing its appreciation to employees and announced more than $700 million in additional associate bonuses.
The retail company's latest announcement includes $319 million in quarterly bonuses paid in associates' Nov. 25 paychecks.
"As we come to a close on this historic year, I'm filled with gratitude for how our associates have led through one of the most trying periods for our company and country. Our associates have stepped up to serve our customers, communities and each other when it was truly needed most, and we're pleased to recognize their efforts with a quarterly bonus for strong store performance and a fourth special cash bonus," said Walmart president and CEO John Furner.
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In its announcement, Walmart said at least 1.5 million full- and part-time employees from Walmart and Sam's Club working in the company's stores, clubs, distribution centers and fulfillment centers will receive about $388 million in special cash bonuses on Christmas Eve.
This will be Walmart's fourth special cash bonus paid to associates since the start of the pandemic and will bring Walmart's total 2020 quarterly and special cash bonuses for its associates to more than $2.8 billion.
For more details on Walmart's latest raise announcement, visit its website.
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Walmart to give employees more than $700 million in associate bonuses