http://news.yahoo.com/s/nm/20090319/ts_nm/us_walmart_bonus_2
Wal-Mart Stores Inc is awarding approximately $2 billion to its U.S. hourly employees through financial incentives, including handing out $933.6 million in bonuses on Thursday, after the world's largest retailer gained market share amid a recession.
According to wiki, Wal-Mart has 2.1 million employees. The article does say the amount is for hourly employees. Let's assume that means 2 million hourly workers. 933.6 million / 2 million = $486.
Of course that will be taxed.
Assuming an hourly worker makes $12 an hour, a Wal-Martian would have to work 40 hours to earn $486. So there you go, it's a week pay bonus.
It may not sound like a lot to you (or maybe a lot to you if you're a student) but think about it in relative terms. If you got an extra week of pay out of the blue, wouldn't you be happy?
And if I remember correctly, it sure beats that Bush tax rebate we got back in 2002.
-- Karl Mamer
Wait a minute, you got the Bush tax rebate? You're a Canadian! So my tax money went to Canadians!? (This started as a joke, but it might open a can of worms ;-) ).
ReplyDeleteHey I did turn right around and spend it upgrading my computer! So it remained right there in Washington state.
ReplyDeleteWe used to pay up to an extra month's bonus at year end in some of our Asian operations that would be paid depending on how well the company performed. Local custom.
ReplyDeleteA friend worked for Seoul City Hall and city workers got this hobbit-ish "second breakfast" type pay check for apparently not being corrupt. I don't think they had to establish they weren't pocketing cash for line jumping or whatever. It was just assumed paying employees one extra month's pay a year went a long way in keeping them from creative salary enhancement techniques. ("We thank you in advance for not being a corrupt public official.")
ReplyDelete