The number of employees who received bonuses rose from 880,000 in the same quarter previous year.
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In all, Wal-Mart awarded about $200 million in second-quarter bonuses to 932,000 hourly store employees. In the year 2015, the company declared a two-year, $ 2.7 billion investment to its associates – which included investments in education, training and higher wages. “Ultimately it will lead to achieving the best shopping experience for our customers”.
At the same time the retailer is cutting back-office jobs, announcing earlier this month the elimination of about 7,000 positions, mostly in accounting and invoicing at its USA stores.
This increase in bonuses comes after the retailer bucked a string of weak earnings by its rivals and reported a better-than-expected quarterly performance last month. The bonuses are not part of that commitment, the company said.
Mike Moore, executive vice president of Supercenters for Walmart U.S said,”Whether it’s buying something for their kids, treating themselves or saving for something great, bonus time at Walmart is always a special time for our associates”.
This year in 2016, Walmart announced plans to open 200 Academies across the USA created to teach advanced retail skills to department managers and hourly supervisors. In February the company rolled out its Pathways training program for all entry-level workers, providing training, education and opportunities for associates, offering them a clearer career path from entry level positions to jobs with more responsibility and higher pay.
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Wal-Mart’s shares traded up 0.44 percent at $72.29 per share in early trade on Wednesday. Each week, we serve almost 260 million customers who visit our 11,504 stores under 65 banners in 28 countries and e-commerce websites in 11 countries. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity.
