Florida bonuses are portion of more than $560 million earned
nationwide in Q4 performance-based bonuses and tenure-based one-time
cash bonuses
ORLANDO, Fla. -- (Business Wire)
Today, more than 890,000 Walmart U.S. associates are receiving a share
of more than $560 million total cash bonuses, including:
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Walmart Associates in Florida To Receive Approximately $42.7 Million in Cash Bonuses (Graphic: Business Wire)
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More than $160 million in cash bonuses based on their stores’ Q4
performance, and
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More than $400 million in one-time cash bonuses tied to recent changes
in tax law.
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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.
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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.
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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:
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Operates 377 retail units.
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Spent $5.7 billion with local suppliers, supporting 89,773 supplier
jobs in 2017.*
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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
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View source version on businesswire.com: http://www.businesswire.com/news/home/20180308005666/en/
Contacts:
Walmart Inc.
Christina Morton, APR, 407-608-5905 (o)
407-212-2658
(c)
Source: Walmart Inc.
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