Walmart (WMT) - Get Walmart Inc. Report announced that it is paying $428 million in bonuses to its frontline workers.
The retail giant released a statement on Tuesday announcing the third special bonus since the coronavirus pandemic hit the U.S. in March.
The company is giving out a $300 bonus to full-time hourly associates and a $150 bonus to part-time hourly and temporary associates. In addition to this, the company said that drivers, managers and assistant managers in stores, clubs, and more will also receive a bonus.
“Our associates have been working at an incredible pace, they’ve solved problems, and they’ve set an amazing example for others,” said John Furner, President and CEO of Walmart U.S. “To further appreciate their incredible work, we are pleased to share another special cash bonus this summer.”
The company said that with this third bonus, it has totaled $1.1 billion in special bonuses so far.
Walmart is not the only company giving out bonuses to its workers amid the pandemic. In June, Amazon (AMZN) - Get Amazon.com, Inc. Report offered a “Thank You Bonus” to its front-line employees and partners totaling over $500 million. Also in June, Lowe’s (LOW) - Get Lowe's Companies, Inc. (LOW) Report announced an additional $100 million in bonuses to its front-line associates, totaling more than $450 million so far this year.
"This year has been full of challenges and uncertainty, and we are tremendously grateful for the hard work, dedication and commitment of our front-line associates," said Lowe's CEO Marvin Ellison. "At Lowe's, we believe that our homes and our communities unite us, and we thank our associates for providing our customers with essential products and services while supporting our communities and medical professionals."
“In the best of times, our team brings incredible energy and empathy to our work, and in harder times they bring those qualities plus extraordinary resilience and agility to keep Target on the forefront of meeting the changing needs of our guests and our business year after year,” said Target's Chairman Brian Cornell. “Everything we aspire to do and be as a company builds on the central role our team members play in our strategy, their dedication to our purpose and the connection they create with our guests and communities.”