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Walmart Ends Quarterly Employee Bonuses While Raising Wages The move will make compensation more consistent and predictable, a spokesperson said.

By Emily Rella

Opinions expressed by Entrepreneur contributors are their own.

Portland Press Herald | Getty Images

Walmart is ending its quarterly bonuses for employees at the same time as it raises hourly wages for workers, according to the Wall Street Journal.

Citing a spokesperson, CNBC confirmed the reporting Thursday, noting that after decades of the program, bonus pay will be eliminated on Jan. 31, 2022.

It will be rolled into workers' base pay. The move will make compensation more consistent and predictable, the spokesperson said.

Walmart announced last week that it would raise its minimum employee wage to $12 an hour. The company said that increase would impact over 565,000 workers, all of whom would earn at least a dollar more. It joins other companies, like Target and Amazon, in raising its wages, although many -- including those -- have elected to bump workers up to $15.

Related: American Airlines Pilots to Picket Over Staff Shortages, Fatigue

In April, the company announced plans to convert two-thirds of its hourly store roles into full-time positions with consistent weekly schedules.

The move is part of an effort to "attract and retain top talent," Drew Holler, the retail giant's senior vice president of U.S. people operations, said in a blog post at the time.

There will be about 100,000 more full-time roles at Walmart than there were five years ago once the initiative is complete.

Emily Rella

Senior News Writer

Emily Rella is a Senior News Writer at Entrepreneur.com. Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

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