TAMPA, Fla., March 8, 2018 – Today, more than 890,000 Walmart U.S. associates are receiving a share of more than $560 million total cash bonuses, including:
· More than $160 million in cash bonuses based on their stores’ Q4 performance, and
· More than $400 million in one-time cash bonuses tied to recent changes in tax law.
· In Florida, Walmart associates are receiving approximately $42.7 million in combined bonuses.
The bonuses, along with an annual pay raise for our hourly field associates, are included in their March 8 paycheck. Between Q4 performance bonuses, tenure-based bonuses, pay increases and recent paid time off (PTO) cash outs, more than $1 billion flowed to U.S. hourly associates during the months of February and March.
In January, Walmart announced plans to increase the starting wage for all hourly associates in the U.S. to at least $11, expand maternity and parental leave benefits, and provide a one-time cash bonus for eligible associates of up to $1,000. A new adoption assistance benefit of $5,000 per child – announced in conjunction with the other changes – went into effect on February 1.
Walmart associates earn quarterly bonuses as part of an overall incentive plan designed to reward associates whose stores achieve sales and customer service goals. Hourly associates in Florida earned more than $15.7 million, following Q4 comp sales of 2.6 percent in Walmart U.S.
· For the full fiscal year, U.S. associates shared more than $625 million in performance-based bonuses, including more than $85.5 million shared by Florida associates.
· Walmart also recently cashed out to associates more than $300 million in unused paid time off (PTO).
“As a company, we want to be ‘people-led and tech-empowered,’ competing with technology, but winning with people,” said Elise Vasquez-Warner, a vice president and regional general manager for Walmart in Florida. “That couldn’t ring truer here in Florida as we recognize the work of our associates and their continued commitment to making every day easier for busy families. We’re proud of the work they do and the critical role they play in the company’s success.”
“Walmart is re-inventing the shopping experience for Floridians while continuing as a leader in the retail industry in associate wages and opportunity,” said R. Scott Shalley, President/CEO Florida Retail Federation. “Thousands of families across the state of Florida will benefit from the recent increase in wages, bonuses and expanded leave benefits. We applaud Walmart for this continued investment in our communities.”
Walmart in Florida
Walmart’s recent pay raises are just one part of the company’s local investment and impact. In Florida, the company:
· Operates 377 retail units.
· Spent $5.7 billion with local suppliers, supporting 89,773 supplier jobs in 2017.*
· Paid more than $145 million in taxes and collected more than $937 million in sales taxes in 2017.
*Information supplied by Dunn & Bradstreet
About Walmart in Florida
Walmart Inc. (NYSE: WMT) helps people around the world save money and live better – anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, over 260 million customers and members visit our more than 11,600 stores under nearly 60 banners in 28 countries and eCommerce websites. In Florida, we serve customers at 377 retail units and online through Walmart Grocery Pickup, Walmart.com and Jet.com. We are proud to employ 108,467 associates in Florida. Walmart supports local businesses, spending $5.7 billion with Florida suppliers in FY17, which supported 89,773 supplier jobs. Learn more at the Walmart Today blog, and our Facebook, Twitter, Pinterest, Instagram channels.