Michigan bonuses are portion of more than $560 million earned nationwide in Q4 performance-based bonuses and tenure-based one-time cash bonuses
Today, more than 890,000 Walmart U.S. associates are receiving a share of more than $560 million in 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 Michigan, Walmart associates are receiving approximately $11.9 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 Michigan earned more than $4 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 $23.9 million shared by Michigan associates.
- Walmart also recently cashed out to associates more than $300 million in unused paid time off (PTO).
“I have been with Walmart for 12 years and there’s always been new opportunities to advance in the company. This bonus is just another example of how Walmart cares about the associates and we’re all important to the company’s success,” said Tiffany Jordan a Training Coordinator at the Walmart in Shelby Township. “By raising the starting wage, we are seeing more candidates with significant retail experience who believe the best opportunities for them are at Walmart.”
Walmart’s recent pay raises are just one part of the company’s local investment and impact. In Michigan, the company:
- Operates 119 retail units.
- Spent $3 billion with local suppliers, supporting 47,000 supplier jobs in 2017.*
- Paid more than $100 million in taxes and collected more than $256 million in sales taxes in 2017.