Walmart plans more cash bonuses
Walmart says that for the fourth time during the pandemic, it will be giving its 1.5 million U.S. part-time and full-time employees additional cash bonuses for their work.
The move, announced Thursday, follows similar announcements in recent weeks by such retailers as Target, Lowe’s, and Amazon, which all are offering another round of bonuses as virus cases surge around the country.
The round of bonuses come as labor-backed groups have been increasing pressure on retailers to extend cash bonuses to workers who’ve felt the brunt of the pandemic as they rush to fill a crush of online orders or bag groceries and risk exposure to the virus.
Walmart, the nation’s largest private employer, says part-time and temporary workers who work at Walmart or Sam’s Club’s stores, distribution centers or fulfillment hubs will receive $150 each, while full-time employees will receive $300 on Dec. 24. In total, Walmart said it’s paying out $2.8 billion in total cash bonuses to workers this year.
• Morgan Stanley is doling out a special one-time gift for lower-compensated employees as the firm heads toward a re
cord year for revenue, a note sent to staff Thursday says. In the U.S., most workers earning below $150,000 will get a $1,000 bonus. The bonus affects about 30,000 employees, or about half the staff. The benefit adds to the company’s promise earlier this year not to cut the workforce in 2020 because of the pandemic.