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Walmart to give over $560M in cash bonuses

Walmart Inc. said March 8 that over 890,000 employees in the U.S. will receive a share of over $560 million in combined cash bonuses.

The aggregate amount consists of over $160 million in cash bonuses based on store performances in the fourth quarter of 2018 and over $400 million in one-time cash bonuses related to tax legislation changes.

For the full fiscal year 2018, Walmart's employees in the U.S. shared a total of over $625 million in performance-based bonuses. The company also paid out over $300 million in unused paid time off.

Walmart said that workers in its Texas unit, which operates 593 outlets, will get approximately $62.6 million in combined bonuses. Meanwhile, Florida employees will receive approximately $42.7 million. Walmart's Florida arm operates 377 retail units.

The big-box retailer in February also raised the minimum hourly wage of its U.S. employees to $11 and agreed to pay a one-time bonus of up to $1,000 to staff who are paid above the minimum wage.