American retailer Walmart has awarded a total of $200 million (£154,055,908) in second quarter cash bonuses to over 900,000 employees across the US.
Eligible employees have the opportunity to earn these bonuses four times a year. The second quarter bonuses were based on performance results between May and July 2016.
The bonuses are provided in addition to Walmart’s ongoing two-year, $2.7 billion investment in staff.
The initiative included a pay increase for employees at Walmart US and its warehouse chain, Sam’s club, in February 2016, which aimed to ensure that all staff earn a minimum of $10 (£7.70) an hour. The pay increase brought the average full-time wage to $13.38 (£10.31) an hour, and the average part-time wage to $10.58 (£8.15) an hour.
Julie Murphy, executive vice president of neighbourhood markets at Walmart US, said: “Our people have always been the most important part of our business and they continue to do amazing things for our customers. Sam Walton built this business on the idea of sharing profits with our associates and treating them as partners.”
Mike Moore, executive vice president of supercenters at Walmart US, added: “Whether it’s buying something for the kids, treating themselves or saving for something great, bonus time at Walmart is always a special time for our associates.”