TRENTON, NJ - More than 890,000 Walmart U.S. associates received a share of more than $560 million in total cash bonuses March 8, 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 New Jersey, Walmart associates are receiving approximately $6.3 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.
Walmart’s recent pay raises are just one part of the company’s local investment and impact in New Jersey where the company operates 73 retail units, spending $12.6 billion with local suppliers, supporting 72,998 supplier jobs in 2017, while paying more than $62.9 million in taxes, collecting more than $160.6 million in sales taxes in 2017, according to information supplied by Dunn & Bradstreet
Walmart employs 21,413 associates in New Jersey.
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 Feb.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 New Jersey earned more than $2 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 $12.5 million shared by New Jersey associates.
Walmart also recently cashed out to associates more than $300 million in unused paid time off (PTO).
“Our people make all the difference, and we value their hard work and contribution to serving customer needs,” said Glen Spencer, a Walmart regional general manager in New Jersey. “Investing in our people doesn’t detract from our bottom line – it adds to it.”
“Walmart has made a considerable investment in New Jersey,” said John Holub, President of the New Jersey Retail Merchants Association. “We’re honored that they’re part of our business community. The company’s commitment to its associates and their families serves as a model for the entire retail and business community.”