Walmart adds employee bonus for hourly US workers
Full- and part-time hourly Walmart workers now eligible for bonuses
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Walmart is now offering bonuses to its hourly employees in the U.S., the company announced Wednesday.
The retail behemoth said in a press release that full- and part-time hourly workers will be eligible for the new bonus, which it says "rewards great work and customer service, and it celebrates long-term associates who build a career."
![walmart worker in a store](https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/06/931/523/walmart-worker.jpg?ve=1&tl=1)
A worker walks through the aisles in a Walmart Supercenter in Hallandale Beach, Floeida, on Feb. 20. (Getty Images / Getty Images)
The longer an associate has been with the company, the higher the associate's bonus potential, to a maximum of $1,000.
"It's important that we are competitive on base wages," Walmart U.S. CEO John Furner told reporters about the move on a press call.
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A worker has to be with the company for a year to be eligible for the bonus, which is calculated based on stores achieving certain performance targets, he added.
![Walmart](https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2022/09/931/523/Walmart.jpg?ve=1&tl=1)
Walmart is now offering a bonus to hourly employees. (Reuters/Mike Segar/File Photo / Reuters Photos)
Ticker | Security | Last | Change | Change % |
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WMT | WALMART INC. | 76.96 | -0.28 | -0.36% |
Walmart, Inc.
The new bonuses are the latest pay boost for Walmart's 700,000 front-line workers, whose average pay has been raised some 30% over the past five years to nearly $18 an hour.
Walmart employs about 1.7 million U.S. workers, a majority of whom staff its 5,000 stores.
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Its minimum hourly wage starts from $14, less than the $15 starting wage at Amazon.com and Target. However, starting pay for a Walmart associate can be as high as $19 an hour, depending on the store location.
Ticker | Security | Last | Change | Change % |
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AMZN | AMAZON.COM INC. | 177.89 | +4.56 | +2.63% |
TGT | TARGET CORP. | 151.90 | -0.58 | -0.38% |
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Earlier this year, Walmart gave its U.S. store managers a raise, lifting their average salary to $128,000 and increasing their annual bonus potential to as high as 200% of their annual salary.
Reuters contributed to this report.