Walmart is ending these bonuses for store workers
CNN
Walmart will end its quarterly bonuses for US store workers in January after it raises its hourly minimum wage from $11 to $12, eliminating a longstanding perk for workers.
Walmart (WMT), the largest private employer in the United States, has for decades paid the bonuses to its approximately 1.2 million hourly store workers based on store performance. The end of the practice means that while many workers will see their hourly pay rise in January, their total compensation next year may not look as rosy as initially perceived when Walmart announced those increases last week. Walmart said that the elimination of quarterly bonuses will not cancel out the wage hike. The company said they make up a portion of the pay hikes for workers and they will be rolled into employees' higher hourly pay. Walmart has also paid out additional bonuses to workers during the pandemic.More Related News