Wal-Mart Giving Workers $933M In Bonuses
Average Employee Bonus Equals $667
POSTED: Friday, March 20, 2009
UPDATED: 11:19 am EDT March 20,
2009
ORLANDO, Fla. -- Retail giant Wal-Mart will hand out its largest annual award -- $2 billion -- which includes bonuses to every part-time and full-time hourly employee.
The $2 billion includes 401k contributions, about $1 billion in profit-sharing, millions of dollars in merchandise discounts and $933 million in bonuses. The average cash bonus for employees will be $667.
"I think it's a very good thing. They're helping out people," a Wal-Mart shopper said.
"If you're doing a good job, give them a reward," another shopper said.
The move comes amid the controversy surrounding hefty bonuses paid out to workers at AIG, which received billions of dollars in bailout money from the federal government. Wal-Mart did not receive any bailout funding.
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