Walmart to End Quarterly Bonuses for Store Workers

15
3
Favorite

Walmart to End Quarterly Bonuses for Store Workers

The Wall Street Journal2021-09-10

Retailer says the benefit, part of potential compensation of hundreds of thousands of workers, would be rolled into their hourly wages Bonuses based on store performance have been part of Walmart ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（3）

4c7ea105
·2021-09-10
Gd
Reply
4
Report
逢場作戲又一日
·2021-09-10
Bonuses
Reply
3
Report
Linnleo
·2021-09-10
Nice.. esp at this point
Reply
4
Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1151224116?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-09-10 10:59","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1151224116","market":"us","top_or_hot":-1,"title":"Walmart to End Quarterly Bonuses for Store Workers","media":"The Wall Street Journal","content":"<div>\n<p>Retailer says the benefit, part of potential compensation of hundreds of thousands of workers, would be rolled into their hourly wages\nBonuses based on store performance have been part of Walmart ...</p>\n\n<a href=\"https://www.wsj.com/articles/walmart-to-end-quarterly-bonuses-for-store-workers-11631190896?mod=hp_lista_pos1\">Source Link</a>\n\n</div>\n","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Walmart to End Quarterly Bonuses for Store Workers</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWalmart to End Quarterly Bonuses for Store Workers\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-10 10:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/walmart-to-end-quarterly-bonuses-for-store-workers-11631190896?mod=hp_lista_pos1><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Retailer says the benefit, part of potential compensation of hundreds of thousands of workers, would be rolled into their hourly wages\nBonuses based on store performance have been part of Walmart ...</p>\n\n<a href=\"https://www.wsj.com/articles/walmart-to-end-quarterly-bonuses-for-store-workers-11631190896?mod=hp_lista_pos1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WMT","symbol_name":"沃尔玛","start_time":0,"source_url":"https://www.wsj.com/articles/walmart-to-end-quarterly-bonuses-for-store-workers-11631190896?mod=hp_lista_pos1","article_id":"1151224116","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1151224116","pubTimestamp":1631242782,"columns":[],"sourceInfo":null,"weMediaInfo":null,"summary":"Retailer says the benefit, part of potential compensation of hundreds of thousands of workers, would","collect":0,"end_time":0,"defaultTopTitle":"wsj.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"WMT":"沃尔玛"},"translate_title":"沃尔玛将结束员工季度奖金","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WMT":0.9},"content_text":"Retailer says the benefit, part of potential compensation of hundreds of thousands of workers, would be rolled into their hourly wages\nBonuses based on store performance have been part of Walmart store workers’ potential compensation for decades.\nWalmart Inc. is phasing out its decades-old quarterly bonuses for store workers, according to the company, as it implements hourly wage increases for hundreds of thousands of its employees.\nWalmart said it would scrap the benefit, dubbed “MyShare,” at the end of the company’s fiscal year on Jan. 31, 2022, according to a memo sent to staff discussing coming wage increases. “We are rolling MyShare into associates’ base pay going forward,” the memo said.\nA Walmart spokeswoman said most workers say their hourly wage is the most important part of their pay, and that folding the bonus into wages increases the amount of consistent, predictable income. She said the quarterly bonus makes up just a portion of the pay increase workers are receiving.\nThe bonuses have been part of Walmart store workers’ potential compensation for decades. Early on, Walmart distributed the bonuses annually based on store performance. Over the years the retailer has used a variety of metrics, including attendance or store-theft level, to determine the payout. Walmart moved the bonus to a quarterly structure in 2007. In some quarters, a store’s performance doesn’t qualify workers for a bonus.\nWalmart, the country’s largest private employer, is implementing a series of hourly wage increases for workers in a tight labor market that has businesses from restaurants to amusement parks competing for staff. Last week, Walmart said it would raise its starting wage to $12 from the $11 floor established in 2018, a move that will increase pay for over 525,000 of its 1.6 million U.S. workers by at least $1 an hour.\nAfter the wage increases, which take effect at the end of September, Walmart’s minimum hourly wage will be lower than at some competitors such as Amazon.com Inc. and Target Corp. Both start workers at at least $15 per hour. Other competitors, such as discount chains Dollar General Corp.,Dollar Tree Inc. and traditional grocers, often start hourly workers at lower wages than Walmart.\nWalmart’s warehouse and fulfillment facilities all pay workers over $15 an hour, said the company spokeswoman.\nWalmart has gradually phased out the quarterly bonus structure over the past year as it offered raises to parts of its hourly workforce. Last year, it raised wages for around 165,000 store workers and eliminated their bonuses. This spring it did the same for around 425,000 digital and stocking workers.\nWalmart has a long history of offering hourly workers financial incentives directly linked to store or company performance. The practice started under founder Sam Walton as a way to give workers a sense of ownership in the company’s results, provide good customer service and hold unions at bay, Mr. Walton wrote in his 1992 autobiography “Sam Walton: Made in America.”\nIn 1971, the company created a profit-sharing plan for all workers that awarded company stock each year. In 1979, Walmart started offering store workers an annual bonus if their store reduced shrink, the industry term for theft and other merchandise loss. “Profit-sharing has pretty much been the carrot that’s kept Wal-Mart [sic] headed forward,” Mr. Walton wrote. After 39 years, Walmart ended its profit-sharing program in 2010, saying it would roll more money into quarterly bonuses and other benefits.\nIn recent years, as competitors have raised hourly minimum wages, Walmart has emphasized its quarterly bonus, along with other perks such as a program that offers workers free college education and on-the-job training. By the end of this month, Walmart workers will earn an average of $16.40 an hour, the company said last week.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":883286857,"gmtCreate":1631244246579,"gmtModify":1676530507420,"author":{"id":"3582002557827165","authorId":"3582002557827165","name":"4c7ea105","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3582002557827165","authorIdStr":"3582002557827165"},"htmlText":"Gd","listText":"Gd","text":"Gd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/883286857","repostId":1151224116,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":883217664,"gmtCreate":1631243643258,"gmtModify":1676530507286,"author":{"id":"3555043402922696","authorId":"3555043402922696","name":"逢場作戲又一日","avatar":"https://community-static.tradeup.com/news/6a5fbf2ceb7c7ee0399d41e6348dadf7","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":5,"crmLevelSwitch":1,"idStr":"3555043402922696","authorIdStr":"3555043402922696"},"htmlText":"Bonuses&nbsp;","listText":"Bonuses&nbsp;","text":"Bonuses","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/883217664","repostId":1151224116,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":883217978,"gmtCreate":1631243626894,"gmtModify":1676530507279,"author":{"id":"3584658134750205","authorId":"3584658134750205","name":"Linnleo","avatar":"https://static.tigerbbs.com/b57e83af12c17b31db1fb1b80ea44c6a","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":2,"crmLevelSwitch":0,"idStr":"3584658134750205","authorIdStr":"3584658134750205"},"htmlText":"Nice.. esp at this point&nbsp;","listText":"Nice.. esp at this point&nbsp;","text":"Nice.. esp at this point","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/883217978","repostId":1151224116,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":15,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}