Walmart Will Pay Almost $550M in Employee Bonuses

According to Walmart’s executive vice president of corporate affairs Dan Barlett, the retailer will be doing its own kind of stimuls package for workers.

Walmart will be paying nearly $550 million in employee bonuses and Barlett said ‘It’s almost like a mini stimulus package’

Bartlett said the bonuses will reward employees for “performing Herculean efforts” and be “almost like a mini-stimulus package.”

Walmart additionally said that it would pay special cash bonuses to its hourly employees for working during the coronavirus pandemic.

The bonuses will be $300 for full-time hourly associates and $150 for part-time hourly associates.

The company said it would be hiring 150,000 new associates through the end of May.

Bartlett said on “Squawk Box” Friday that Walmart now sees the most supply chain pressure with food.

“It is quite frankly, unprecedented, the type of sustained pressure that we’re seeing.” he said. “It is like Black Friday day after day after day in some respects.”

Disclaimer: We have no position in Walmart Inc. (NYSE: WMT) and have not been compensated for this article.