On March 19, we announced plans to provide a special cash bonus for hourly associates for their hard work and dedication to serving customers in a time of an unprecedented national health crisis. The bonus is for all U.S. hourly associates in stores, clubs, supply chain and offices. The bonus will be $300 for full-time hourly associates and $150 for part-time hourly associates and will add up to more than $365 million. Every hourly associate employed by the company as of March 1 will qualify, and it will pay out on April 2.
In addition to that special bonus for hourly associates, we will accelerate the next scheduled quarterly bonus for store, club and supply chain associates a month early. When it pays out in late April, it will help provide more cash in hand for associates sooner. The company will pay those bonuses as if the company achieved its first quarter plan. At the regularly scheduled time for bonus payout in May, that amount may increase for associates based on performance. In no case will an eligible associate receive less than the first quarter plan bonus payment. The early payout will add up to $180 million.
Overall, it amounts to nearly $550 million going into associates’ pockets and the economy at this important time. Hourly Q4 bonuses were paid this week, meaning hourly associates will receive bonus payments on March 19, April 2, April 30 and May 28.
“Walmart associates have gone above and beyond the call of duty in serving our customers during these unprecedented times,” said Doug McMillon, President and CEO, Walmart. “We want to reward our associates for their hard work and recognize them for the work that is in front of us.”