BENTONVILLE, Ark. — Walmart has unveiled its own fiscal stimulus package, in the form of cash bonuses for all of its U.S. hourly associates.
Walmart said Wednesday that the bonus of $300 for full-time hourly associates and $150 for part-time hourly associates will be paid to hourly associates in stores, clubs, supply chain and offices. Every hourly associate employed by the company as of March 1 will qualify for the bonuses, which will be paid on April 2.
The company said it will move up the next regularly scheduled quarterly bonus for store, club and supply chain associates, paying it a month early. The company will pay those bonuses as if the company achieved its first quarter plan. At the regularly scheduled time for the bonus payout in May, that amount may increase for associates based on performance.
The combined bonuses amount to a total of nearly $550 million that will be going into associates’ pockets and the economy at this important time, the company said. Hourly Q4 bonuses were paid this week, meaning hourly associates will receive bonus payments on March 19, April 2, April 30 and May 28.
“Walmart associates have gone above and beyond the call of duty in serving our customers during these unprecedented times,” Walmart president and CEO Doug McMillon said in a statement. “We want to reward our associates for their hard work and recognize them for the work that is in front of us.”
Walmart said it is also hiring 150,000 new associates through the end of May to work in stores, clubs, distribution centers and fulfillment centers. These roles will be temporary at first, but many will convert to permanent roles over time, the company said, adding that is has reached out to industry groups representing restaurants and hospitality to potentially provide temporary jobs for workers laid off in those sectors due to the COVID-19 outbreak.
Walmart is also implementing a new process to dramatically expedite hiring for key roles, such as cashiers and stockers. What is usually a two-week application cycle will be reduced to a 24-hour process. Anyone interested in applying should do so at careers.walmart.com. This initiative is aimed at helping put Americans to work, while helping Walmart better serve customers during this time of increased demand.
“We know millions of Americans who are usually employed at this time are temporarily out of work, and at the same time we’re currently seeing strong demand in our stores,” McMillon said. “We’re looking for people who see Walmart as a chance to earn some extra money and perform a vital service to their community.