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Walmart awards cash bonuses to nearly a million workers

September 22, 2016

The quarterly bonuses went to workers at about 99% of its stores in the United States for meeting targets for sales, profit and "customer experience," which includes cleanliness and checkout time, company spokesman Kory Lundberg said Wednesday.

The payouts are part of a $2.7 billion incentive plan launched last year, when Walmart also raised its minimum wage to $9 an hour.

"The business plan is starting to work," Lundberg said. "Customers are starting to notice a difference when they come into the stores to do shopping."

In all, Walmart (WMT) awarded about $200 million in second-quarter bonuses to 932,000 hourly store employees. Walmart profits and sales for the quarter topped forecasts. Sales in the U.S. rose 3%, and earnings per share jumped 12%.

walmart worker
Walmart paid $200 million in cash bonuses to 932,000 hourly store employees as part of a multi-billion dollar effort to ramp up profits.

The number of employees who received bonuses rose from 880,000 in the same quarter last year. As recently as two years ago, only 76% of stores were awarded bonuses for meeting targets, Lundberg said.

Walmart has about 4,600 stores and 1.5 million employees in the U.S. That includes employees outside stores, like truck drivers and distribution center workers, and employees of Sam's Club.

The bonuses were announced days after Walmart said it would cut 7,000 jobs, though the company said it would try to move the workers to other stores.

 

Prince's Paisley Park home to open to public

August 25, 2016

Prince's home Paisley Park is being opened to the public six months after the rock legend's death.

Fans can start buying tickets this Friday at 3 p.m. ET for tours that begin on Oct. 3. The home is in Chanhassen, Minn., about 30 minutes outside of Minneapolis. The 
tickets are available online.

Tickets will cost $38.50, according to the business plan on file with local zoning board. Tours will last just over an hour and be limited to 25 to 30 guests at a time, which means about 1,500 to 2,000 vi...


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Great-looking cars on a budget

August 18, 2016
Mazda3

best looking cheap cars
  • Base price: $17,845

It is often said that good design costs nothing. In the car business, that's not quite true. Designers' jobs would be much simpler if they never had to worry about how much time and effort it takes to stamp out complicated body panels or line up those pieces on the assembly line. It's much easier to design a pretty car that costs a lot of money. That makes it all the more impressive, then, to see really sharp looks on cars that cost relatively little.

Exhibit A is the ...


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