Walmart associates in Missouri to receive millions of dollars in bonuses today
ST. LOUIS, MO – Walmart announces that more than 890,000 associates in the United States are receiving a share of more than $560 million in total cash bonuses. In Missouri, they’re receiving about $14.9 million in combined bonuses. The bonuses, along with an annual pay raise for our hourly field associates, are included in their March 8 paycheck.
Walmart’s recent pay raises are just one part of the company’s local impact. In Missouri, the company says they operate 157 retail units, spends $7.3 billion with local suppliers, supporting 59,953 supplier jobs in 2017. Dunn & Bradstree say they pay more than $81.4 million in taxes and collected more than $628.6 million in sales taxes in 2017.
Walmart is raising its minimum wage and handing out tax cut bonuses because of the new Republican tax law.
The retail company said the wage hike to $11 an hour would roll out in February. Employees are also getting a one-time bonus of up to $1,000.
Walmart previously raised its minimum pay for most employees to $10 an hour in 2015. As of December, the average pay for full-time workers was $13 an hour.
“Today, we are building on investments we’ve been making in associates, in their wages and skills development,” Walmart president and CEO Doug McMillon said in a news release. “It’s our people who make the difference and we appreciate how they work hard to make every day easier for busy families.”
He added that “tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S.”
Because of the tax reform law, Walmart says it’s also creating a new benefit to assist associates with adoption expenses. The benefit, which will be available to full-time hourly and salaried workers, will total $5,000 per child.
The company said it’s also expanding its parental and maternity leave policy. Full-time hourly workers in the United States will get 10 weeks of paid maternity leave and six weeks of paid parental leave.
The changes affect more than 1 million hourly associates.
McMillon also said the company is “early in the stages of assessing the opportunities” that tax reform creates for Walmart. The company said it will share further details when it releases quarterly results next month.