Throughout the COVID-19 pandemic, Walmart is regularly provided bonuses to its associates, totaling more than $2 billion to date.
On Thursday, Dec. 3, the retailer announced its plans to inject an additional $700 million into cash bonuses for U.S. employees – both full-time and part-time. This $700 million total includes $319 million in quarterly bonuses paid on Nov. 25 and approximately $388 million in cash bonuses to be paid on Dec. 24.
This Dec. 24 cash bonus is expected to impact roughly 1.5 million Walmart and Sam’s Club employees. Associates working in stores, clubs, distribution centers and fulfillment centers will be eligible for the cash bonus.
Full-time hourly associates will receive $300 for the special cash bonus in December. Walmart reports that more than 60 percent of associates are full-time. Part-time and temporary hourly workers will receive $150 for the bonus. Drivers, coaches and assistant managers are also expected to receive a special cash bonus.
“As we come to a close on this historic year, I’m filled with gratitude for how our associates have led through one of the most trying periods for our company and country. Our associates have stepped up to serve our customers, communities and each other when it was truly needed most, and we’re pleased to recognize their efforts with a quarterly bonus for strong store performance and a fourth special cash bonus,” Walmart U.S. president and CEO John Furner said in a statement.
This marks the fourth “special cash bonus” that Walmart has provided to associates since April 2020. On April 9 and June 25, the company gave $368 million in cash bonuses each time. On Aug. 20, Walmart gave $402 million in cash bonuses. Combined with the Dec. 24 bonus, Walmart has given $1.525 billion in special cash bonuses during the pandemic.
There have also been quarterly incentive payouts throughout the year. Starting March 19, the company provided $197 million in bonuses, followed by an early Q1 incentive payout of $157 million and a Q1 incentive payout of $215 million. The Q2 and Q3 incentive payouts amounted to $414 million and $319 million, respectively. In total, the incentive payouts were $1.302 billion.
With both special cash bonuses and incentive payouts, Walmart projects roughly $2.827 billion in employee bonuses by the end of December 2020.