Walmart ends quarterly bonuses for store associates, as it raises employees’ hourly pay
· Walmart said it is ending quarterly bonuses, which have been paid to employees for decades.
· The big-box retailer recently announced that it would boost hourly pay.
· Many companies have been raising wages and sweetening perks as they try to attract candidates and retain workers in a competitive labor market.
Melissa Repko, CNBC
Sep 9 2021
Walmart will end quarterly bonuses, as it raises hourly wages for store employees and other workers.
A company spokeswoman confirmed Thursday that the big-box retailer is eliminating the additional pay on Jan. 31, 2022, and rolling it into its workers’ base pay. The bonuses — dispersed four times per year — have been paid out for decades.
Walmart spokeswoman Anne Hatfield said the change will make compensation more consistent and predictable for employees. The development was first reported by The Wall Street Journal.
Walmart announced the new pay structure in a memo to employees last week. Hatfield declined to provide a copy of the memo, saying it is an internal communication.
The latest announcement comes on the heels of another wage change at Walmart...
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