By Dave Sebastian
Walmart Inc. said it is paying more than $700 million in cash bonuses to its associates in the U.S., bringing its total bonus amount paid to about $2.8 billion this year as the Covid-19 pandemic caused a shift in shopping habits.
The additional bonuses comprise $319 million collectively in quarter paid in Nov. 25 paychecks and an estimated $388 million in special cash bonuses to be paid Dec. 24, Walmart said Thursday.
About 1.5 million associates working in the company's stores, clubs, distribution centers and fulfillment centers will receive the Dec. 24 bonus, Walmart said.
Part-time and temporary hourly associates will get $150 in special bonus, while full-time associates will get $300. More than 60% of the company's associates are full-time, it said.
Walmart also extended its Covid-19 leave policy to July 5, 2021. Under the policy, associates could get two weeks of pay if they need to stay home for Covid-related reasons such as mandatory quarantines, symptoms or illness. The company could provide additional pay replacement if the workers aren't able to return to work after the two weeks, it said.
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(END) Dow Jones Newswires