Money Walmart touts $1,000 employee bonuses, but there's a catch

09:50  13 january  2018
09:50  13 january  2018 Source:   businessinsider.com

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Among that group of employees , only those who have worked for Walmart for 20 years or more will get the full $ 1 , 000 , Walmart told Business Insider. Here' s how the bonus payout breaks down: 0: Less than 2 years of Walmart employment .

Walmart touts $ 1 , 000 cash bonus for employees — but there ' s a catch . Walmart is paying out 0 million in bonuses to 890, 000 employees . The bonuses will hit employees ' paychecks this week.

Walmart said Thursday that it's raising starting wages for hourly employees to $11 and offering a one-time cash bonus of up to $1,000.

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She held the same job for 58 years, never looked for another

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$US 1 , 000 : 20 years or more of Walmart employment . Some employees may qualify for both bonuses . That means that some long-term employees who got the $US 1 , 000 lump sum bonus may end up getting another couple hundred dollars from the performance-based bonus .

Walmart is boosting the minimum hourly wage for its U. S . employees to and dishing out bonuses of up to $ 1 , 000 . But, Gordon said, the move indicates that "the corporate tax cut' s touted trickle-down effects that were met with skepticism by critics may be happening."

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The bonus will only go to employees who are not impacted by the wage increases — meaning they already earn more than $11 per hour.

Among that group of employees, only those who have worked for Walmart for 20 years or more will get the full $1,000, Walmart told Business Insider.

Here's how the bonus payout breaks down:

--$200: Less than 2 years of Walmart employment

--$250: 2-4 years of Walmart employment

--$300: 5-9 years of Walmart employment

--$400: 10-14 years of Walmart employment

--$750: 15-19 years of Walmart employment

--$1,000: 20 years or more of Walmart employment

The bonus will be included in employees' paychecks in March, according to a copy of a Walmart memo posted to Reddit.

Walmart verified the facts in the memo to Business Insider.

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Walmart Touts $ 1 , 000 Employee Bonuses , But There ' s A Catch - Продолжительность: 2:43 RandomTopicsWithHumor 68 просмотров.

AP Walmart is paying out 0 million in bonuses to 890, 000 employees .The bonuses will hit employees ' paychecks this week.When announcing the bonuses in January, Walmart said employees would get up to $ 1

Walmart also said Thursday that it was expanding maternity and parental-leave benefits, as well as creating a new benefit to assist with adoption expenses.

The company announced the pay increases and bonuses on the same day that it revealed it was closing 63 Sam's Club stores.

More than 11,000 employees are expected to lose their jobs as a result of the closures. Each Sam's Club store employs about 175 people, according to Walmart.

The company said late Thursday that fired employees would still be eligible for the cash bonus.

In the memo of talking points regarding the pay and benefit changes, Walmart instructed supervisors to describe the changes to employees as a "big, exciting deal."

"This is a big moment for Walmart!" the memo reads. "We work for an amazing company that is giving back to you who work every day to make a difference for our stores and our customers."

"Please add your personal comments and style to this conversation," the memo adds.

The Reddit user who posted the memo did not immediately respond to requests for comment from Business Insider.

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Wage hike ripples through Ontario economy .
Nick Cluley and his wife, who have always paid their Coffee Public employees more than minimum wage, have boosted everyone's pay by $1.25 an hour since Jan. 1 — not just those earning below $14, as a new Ontario law required. They did that "to avoid tensions that might come from more experienced people, you know, being crunched right up against the same salary as someone that just started," he said. The new starting wage is $14.75, though the staff average is closer to $15.45, he said, adding they raised prices by about 10 per cent on everything they serve in their Toronto and Port Hope, Ont., shops.

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