By Sarah Nassauer 

Walmart Inc. said it will pay special cash bonuses totaling $550 million to its hourly workers and hire 150,000 temporary staffers as the country's biggest retailer seeks to manage a shopping surge sparked by the coronavirus pandemic.

The company, which employs more than 1.5 million people in the U.S., has struggled to keep its stores stocked and fulfill online orders as consumers seek to stock up on food and household essentials. The company has kept its U.S. stores open but reduced store hours.

On Thursday, Walmart said it would pay a $300 cash bonus to full-time hourly workers and a $150 bonus to part-timers. The company said it would also accelerate first-quarter bonuses.

The company also said it would seek to hire the 150,000 new workers through the end of May in its stores and fulfillment centers. The jobs will be temporary at first but could convert to permanent roles, Walmart said.

Walmart's moves come days after Amazon.com Inc. said it planned to hire an additional 100,000 people in the U.S. and raise pay for warehouse and delivery workers by $2 an hour through April. Both companies are trying to manage a surge in orders at a time that many traditional retailers have shut their doors.

Walmart officials said Thursday they had reached out to industry groups representing hotels and restaurants, offering to hire staff who have recently lost their jobs. Walmart is also speeding its hiring process to 24 hours, down from what is usually a two-week application process.

Walmart said every U.S. hourly worker employed by March 1 will receive the special bonus and the payments will be made on April 2.

"We felt this was a moment they needed to be provided some extra merit pay," Dan Bartlett, executive vice president of corporate affairs at Walmart, said Thursday on a call with reporters.

Write to Sarah Nassauer at sarah.nassauer@wsj.com

 

(END) Dow Jones Newswires

March 19, 2020 21:01 ET (01:01 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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