Walmart Hiring 150,000, Giving Employees Cash Bonuses

WMT is reducing its screening time for hiring to 24 hours

A Walmart (NYSE:WMT) hiring spree will have the company bringing in an additional 150,000 workers.

Walmart Hiring 150,000, Giving Employees Cash Bonuses
Source: Jonathan Weiss / Shutterstock.com

The retail giant says that these new positions will start out as temporary. However, there is an opportunity for them to become permanent over time. The company says this offers people out of work due to the coronavirus from China a chance to continue making money.

The Walmart hiring effort will also have it speeding up its application process. It typically takes two weeks for it to complete its screening effort, but this new hiring spree will have it doing so in just 24 hours.

Doug McMillon, President and CEO of Walmart, said this about the hiring news.

“We know millions of Americans who are usually employed at this time are temporarily out of work, and at the same time we’re currently seeing strong demand in our stores. We’re looking for people who see Walmart as a chance to earn some extra money and perform a vital service to their community.”

Walmart is also handing out an extra bonus to its employees. This will have full-time employees getting a $300 bonus and part-time employees getting a $150 one. To go along with this, it will be handing out its first-quarter bonus to employees early. The company says this will just assume that stores have met the goal to receive a bonus.

WMT stock was down 3.55% as of Friday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/03/walmart-hiring-amid-coronavirus-spread/.

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