Walmart to pay out an additional $700 million in bonuses to U.S. employees

Walmart Inc. said Thursday it will pay out more than $700 million in additional cash bonuses to its U.S. employees, to mark the fourth special bonus paid since the start of the COVID-19 pandemic. The payout includes $319 million in quarterly bonuses paid in employees' paychecks on Nov. 25, following "strong third-quarter business performance," and about $388 million in "special" bonuses to paid Dec. 24 "in recognition of associates' sustained commitment to customers during the pandemic." That brings the total quarterly and special bonuses paid out during the pandemic to $2.8 billion. "As we come to a close on this historic year, I'm filled with gratitude for how our associates have led through one of the most trying periods for our company and country," said Walmart U.S. Chief Executive John Furner. The stock, which rose 0.1% in premarket trading, has run up 26.7% year to date through Wednesday, while the SPDR Consumer Staples Select Sector ETF has gained 6.3% and the Dow Jones Industrial Average has tacked on 4.7%.

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