9/9, 3:56 PM (Source: TeleTrader)
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Walmart ceases quarterly bonuses, increases wages

Walmart is set to cease paying quarterly bonuses to employees but conversely increase their hourly base pay, The Wall Street Journal reported on Thursday. More than 565,000 store workers are set to receive an increase of at least a dollar per hour and the minimum will increase to $12 an hour.

The move follows other giants such as Target and Amazon raising their minimum to $15 and is seen as an effort to attract candidates in an increasingly competitive labor market.

Walmart has long been known for employee incentive policies tied to the company's own performance and has attempted to highlight this in recent years as a counterpoint to competitors' wage increases.

Breaking the News / IB