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Walmart Temporarily Raising Its Minimum Wage by $2

Walmart (NYSE: WMT) has raised its minimum wage by $2 for workers in its e-commerce fulfillment centers and warehouses. Hourly wages for those positions will be between $15 and $19 now through Memorial Day, according to Reuters.

Walmart is hiring

The retail giant has started adding 150,000 workers to its workforce. That's being done in an effort to keep store shelves stocked and get orders delivered to customers who would normally be coming to stores. Walmart has also created a bonus plan for its workers, according to a company statement:

The bonus is for all U.S. hourly associates in stores, clubs, supply chain, and offices. The bonus will be $300 for full-time hourly associates and $150 for part-time hourly associates and will add up to more than $365 million. Every hourly associate employed by the company as of March 1 will qualify, and it will pay out on April 2.

Walmart has raised its minimum wage. Image source: Walmart.

Basically, even in these trying times, Walmart needs to pay up to entice people to come to work. The coronavirus has been a business boon for the retailer, but the company has struggled to keep up with the demand.

Walmart is doing what it can

People forced to stay at home due to the coronavirus pandemic still need to eat. They also need basic supplies and Walmart needs workers to fill those needs. The retailer isn't spending extra money on staff to be generous. It's doing so to entice workers to come to work so the company can meet the increased demand caused by the current crisis.

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Daniel B. Kline has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.


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