Walmart raises starting wages, handing out bonuses
BENTONVILLE, Ark.- Walmart is boosting its starting salary for U.S. workers to $11 an hour, giving a one-time $1,000 cash bonus to eligible employees and expanding its maternity and parental leave benefits.
The retailer said Thursday changes to its compensation and benefits policy will impact more than a million hourly workers in the U.S., with the wage increase effective next month.
The company is also creating a new benefit to assist employees with adoption expenses.
According to CNBC, a Walmart spokesperson said the bonuses will be determined by the employee's length of service at the company. Those workers with more than 20 years of experience will qualify to receive the full $1,000. However, workers with two to four years of experience will receive $250.
Employees with five to nine years will receive a $300 bonus. Those with 10 to 14 years of work will get a $400 bonus. Employees with 15 to 19 years will receive $750.
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