Friday, October 24, 2025
spot_img

Walmart to scrap quarterly bonuses as it raises wages

spot_img
- Advertisement -

Walmart Inc said on Thursday it was phasing out its decades-old quarterly bonuses for store workers as it implements hourly wage raises for employees.

The U.S. retailer would scrap the benefit at the end of its fiscal year on Jan. 31, and roll it into associates’ base pay.

“The overwhelming majority of our associates say their hourly wage is the most important part of their pay and by folding the bonus into the overall pay raise, associates receive consistent, predictable pay,” a Walmart spokesperson said in a statement.

Last week, the company said it planned to raise wages for more than 565,000 store workers by at least $1 an hour in its third wage investment over the past year.

With the wage increase, Walmart’s U.S. average hourly wage will go up to $16.40, it has said.

Several U.S. retailers and restaurants have been forced to cut working hours and limit operations due to labor shortages. Scrambling to find workers, a few companies are even offering sign-on bonuses between $1,000 and $5,000 to some employees.

However, the labor crunch is expected to ease starting in September, as the government-funded unemployment benefits expire.

spot_img

Editorial

Why TCS Deferred FY25 Salary Hike: Better Hike Ahead?

TCS had initially announced its annual salary hike during...

Deloitte, PWC, EY, KPMG to Hire 1 Lakh People in India in FY25

According to estimates from top company officials and industry...

Higher EPS Pension Application Stuck: A Step-by-Step Guide to Fix

Nearly 97,640 Provident Fund (PF) members and pensioners under...

Employee Benefits at India’s Big 4 Firms Deloitte, PwC , EY, KPMG

The Big 4 firms; Deloitte, PwC (PricewaterhouseCoopers), EY (Ernst...

TCS Announces 4-8% Salary Hike for FY25, Lowest in Last 4 Years

Tata Consultancy Services (TCS), India's largest IT services provider,...

Must Read

Oyo lays off around 1,800 employees across India and China

According to a report in Bloomberg, SoftBank-backed Oyo Hotels is...

EY has a robust hiring plan in India for 2021

EY has a robust hiring plan in India for...

IT companies to cut 3 million jobs by 2022, Reports

With automation taking place at a much faster pace...

The Role of Organizational Neuroscience in Human Resources

I am a former medical doctor, with a PhD...

Cognizant appoints Jatin Dalal as Chief Financial Officer

Cognizant, one of the world's leading professional services companies,...

Tech Mahindra reports attrition at 17%, to hire above 15K freshers in FY22

Yesterday, IT services provider,  Tech Mahindra has announced its Q1...

TCS founder and first CEO Faqir Chand Kohli passes away

TCS founder and First CEO Faqir Chand Kohli passes...

Govt Paid Internship, Stipend Rs. 15,000/Month; Apply by July 31

The Swachh Bharat Mission (SBM) Directorate in Uttar Pradesh...

Related Articles

SightsIn Plus
SightsIn Plushttps://sightsinplus.com/
SightsIn Plus is an India’s leading high-quality people-focused monthly HR Magazine and provides up-to-date HR News, Leadership Announcements, Best HR Practices and Insights by Global CHROs, CEOs, HR Advisors, Business Managers and HR Heads on topics of interest to HR professionals. To subscribe SightsIn Plus, HR Magazine please visit- https://sightsinplus.com/subscribe/