Retail

Walmart To Reward Workers With $550M In Bonuses Amid Coronavirus

Walmart

To honor staffers who are maintaining stocks of supplies on shelves as shoppers visit locations in droves, Walmart said it would pay almost $550 million in bonuses to hourly workers. The retailer has experienced an increase in sales as consumers stock up on toilet paper, food, hand sanitizer and other products as they get ready to remain in their residents with increasing COVID-19 cases, CNBC reported.

Dan Bartlett, the retailer’s executive vice president of corporate affairs, told CNBC that the businesses would honor employees for “performing Herculean efforts” and provide them with funds. He said per the report, “It’s almost like a mini stimulus package for Walmart associates.”

The biggest grocery in the country said the special bonuses would be over $365 million in total. Part-time hourly associates will receive a bonus of $150, while full-time hourly associates will receive a bonus of $300. Every hourly associate in Walmart’s employ as of March 1 will be eligible, and the bonus will be paid April 2.

Walmart, for its part, is the biggest private employer in the country. The retailer has over 1.3 million employees in the U.S, and over 2.1 million employees around the world. It is also speeding up the payout of its upcoming scheduled quarterly bonuses for club, store and supply chain workers.

The retailer will pay $180 million of bonuses a month one month ahead of time in  April. It will also bring 150,000 new associates through May’s conclusion on board to work in clubs, stores, fulfillment centers and distribution centers to maintain pace with increased demand.

In separate news, demand for grocery delivery services is so elevated that some clients are waiting seven days for items that are missing merchandise, and servers are going down with increased demand.

Farmstead Founder Pradeep Elankumaran said per a report, “Just when we thought we were catching up, this overwhelmed the system again.” He indicated per the report that the average wait time for groceries as of now is six days, and orders have recently increased by two times.

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New PYMNTS Report: The CFO’s Guide To Digitizing B2B Payments – August 2020 

The CFO’s Guide To Digitizing B2B Payments, a PYMNTS and Comdata collaboration, examines how companies are updating their AP approaches to protect their cash flows, support their vendors and enable their financial departments to operate remotely.

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