Financial news

Walmart to pay nearly $550 million in staff bonuses and hire 150,000 new people amid coronavirus crisis

By  | 

Via Yahoo Finance

Walmart is planning to hire 150,000 new US employees to keep up with the demand brought on by the coronavirus crisis.

The nation’s largest grocer announced it plans to hire the new staff to the end of May as demand for food and supplies continue to surge.

The business will also pay nearly $550m in bonuses to hourly employees, to reward staff for keeping up with the demands of Covid-19, according to CNBC.

Walmart said that it will be giving special bonuses to its hourly employees to reward them for their continued work throughout the pandemic.

Part-time workers will receive $150 while full-time workers will receive $300 provided they started 1 March.

The business will also move up quarterly bonuses for workers to help ease the financial strain.

Walmart’s executive vice president of corporate affairs Dan Bartlett told CNBC the bonuses will reward employees for “performing Herculean efforts”.

“It’s almost like a mini-stimulus package for Walmart associates,” he said.

He told the network that Walmart is facing pressure with food supply chains.

The jobs are temporary but many will become permanent, Mr Bartlett said.

Mr Bartlett noted that the company will be reaching out to industry groups being hit hard by the ramifications of the virus.

The restaurant and hospitality industry will be targeted in particular, both of which have been heavily affected by lockdowns and travel bans.

Businesses across the world have been affected by the economic impact of the pandemic, with many workers fearing the risk of being laid off due to the strain.

READ ALSO  Exclusive: Top U.S. banks may shun small-business rescue plan on liability worries - sources

Amazon has also said it would hire 100,000 staff to keep up with a surge in online orders.

As people are forced to self-isolate many are stocking up on essentials, with instances of stockpiling occurring across the US, often leaving supermarket shelves empty.

Supply chains and retailers continue to struggle to keep up with the demand, with businesses such as Amazon being forced to halt services in order to prioritise essential in-demand items.

Additional reporting by Associated Press

Read more

The dirty truth about washing your hands

What is the difference between Covid-19 and the common cold and flu?

Can face masks really protect you against coronavirus or flu?

The UK government’s four stages of fighting coronavirus explained

What are symptoms of coronavirus — and where has it spread?

Print Friendly, PDF & Email

Hold dit netværk orienteret