Walmart announced recently that its 21,000-plus New Jersey associates would be receiving a share of $6.3 million in cash bonuses, part of the company’s reward to employees for fourth-quarter performance and other factors.
The retailer said in a news release that some 890,000 associates nationwide would share more than $560 million in cash bonuses, including more than $400 million in one-time bonuses tied to tax law changes and more than $160 million in Q4 performance bonuses.
“Our people make all the difference, and we value their hard work and contribution to serving customer needs,” Glen Spencer, a Walmart regional general manager in New Jersey, said in a prepared statement. “Investing in our people doesn’t detract from our bottom line, it adds to it.”
In January, Walmart announce it would increase hourly associates’ starting wage to a minimum of $11 an hour and award eligible associates with a $1,000 one-time cash bonus. The company said associates’ March 8 checks would include any Q4 bonus awarded, as well as an annual pay raise for hourly field associates.
Walmart has 73 retail stores in New Jersey, with 21,413 total associates.
“Walmart has made a considerable investment in New Jersey,” John Holub, president of the New Jersey Retail Merchants Association, said in a statement. “We’re honored that they’re part of our business community. The company’s commitment to its associates and their families serves as a model for the entire retail and business community.”
The company said its 2017 contribution to the state economy included spending $12.6 billion with local suppliers and paying more than $62.9 million in taxes, as well as collecting more than $160.6 million in sales taxes.