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Walmart To Ditch Quarterly Bonuses For Store Workers

By John F. Heerdink, Jr.

Walmart Stores, Inc. (WMT) to end its decades-old quarterly bonuses for store workers as it implements hourly wage raises for employees, as per a Wall Street Journal report. It was further informed that Walmart would scrap the benefit, dubbed MyShare, at the end of its fiscal year on Jan. 31, and roll it into associates’ base pay.

Several U.S. retailers and restaurants have been forced to limit operations and reduce working hours due to labor shortages. Few companies are also offering sign-on bonuses between $1,000 and $5,000 to some employees, as they struggle to find workers. However, the labor crunch is expected to reduce starting this month, as the government-funded unemployment benefits expire.

Walmart Stores, Inc. (WMT) is a worldwide retailer that operates in various formats. The three segments of the company include Walmart U.S., Walmart International, and Sam’s Club. The company is comprised of discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, apparel stores, drug stores, convenience stores, and membership-only warehouse clubs; and retail Websites. To learn more about Walmart (WMT) and to continue to track its progress please visit the Vista Partners Walmart Coverage Page

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(Read Original Story: Walmart to scrap quarterly bonuses for store workers - WSJ in Reuters)


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