Both part-time and full-time associates of Walmart will be eligible for a financial bonus of up to $1,000 annually. Credit: © 2024 Walmart Inc.

Multinational retail corporation Walmart has unveiled a new bonus programme for its part-time and full-time hourly store workers in the US. 

According to Reuters, the investment could benefit up to 700,000 front-line staff. 

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The initiative, which includes staff at pharmacy and vision centre outlets, is designed to reward associates with up to $1,000 annually if they stay longer in the company. 

According to Walmart US president and CEO John Furner, the bonus eligibility kicks in after an associate has been with the company for one year.  

Since 2019, Walmart has raised hourly wages by 30%, resulting in an average hourly wage close to $18. 

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In addition to the bonuses, Walmart is piloting an Associate to Technician programme in the Dallas-Fort Worth area.  

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The initiative aims to facilitate the transition of hourly store and supply chain workers into more technical roles such as facilities maintenance, and heating, ventilation and air-conditioning technician positions.  

The company is also offering 50 skills certificates, which can be completed in an average of four months, providing a faster alternative to traditional college degrees. 

The bonus programme and additional investments in employee development are part of Walmart’s broader strategy to support its workforce.  

Walmart US president and CEO John Furner and senior vice-president and chief talent officer Lo Stomski stated: “These investments are all part of our people-led, tech-powered commitment to Walmart associates. We believe in them and their potential.  

“We know that when they’re given the right tools, opportunities for growth and investments in their personal well-being, they can accomplish more than they imagined personally and professionally.” 

In May 2024, a report in the Wall Street Journal revealed that Walmart is axing hundreds of corporate jobs as part of a restructure.