Walmart said Wednesday that store employees are now eligible for a financial bonus of up to $1,000 a year, the first time ordinary workers at the retailer are eligible for the enhanced pay.
The bonus is available for both part- and full-time Walmart employees, including those in its pharmacy and eye care centers, the retailer said. The amount employees receive is tied to their store’s performance and the number of years the person has been with the company.
For example, under the new bonus plan a full-time worker who’s been with Walmart between one year and almost five years can earn an extra $350 per year, while a 20-year full-time worker can earn a maximum bonus of $1,000, Walmart said. The plan will be available to 700,000 U.S. workers, the company said.
In January, Walmart announced its U.S. store managers would receive up to $20,000 in Walmart stock grants every year.
Walmart also announced a training program for hourly workers in its U.S. stores and supply networks that will give them an opportunity to move into roles in facilities maintenance, refrigeration, heating, ventilation and air conditioning, and automation. The jobs pay between $19 and $45 per hour, and workers will be paid during the training, the company said.
Walmart’s starting wages for U.S. workers range between $14 and $19 an hour. Over the past five years, Walmart has increased hourly wages by 30% to an average $18 for store associates, the company said.
—The Associated Press contributed to this report.
