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Plus Wal-Mart is laying off 3600 store managers.
Another way to pay for those $1000 bonuses:
So trade $1000 bonuses (for only some employees with over 20 years) you have to eliminate another 1000 jobs, too.
Wanna bet the bulk of those will be older employees making more money? Where are you going to find a good job in Bentonville after getting layed off?
The Walmart one time bonus has a caveat based on length of service shown below. has the right idea on the Honeywell 1% 401k match increase being a much better deal. It keeps accruing year over year with compounding interest. Depending on your base salary it can easily be worth $5K-$15K over 10 years with compounding investment gains.
$200: Less than 2 years of Walmart employment
$250: 2-4 years of Walmart employment
$300: 5-9 years of Walmart employment
$400: 10-14 years of Walmart employment
$750: 15-19 years of Walmart employment
$1,000: 20 years or more of Walmart employment
Don't be surprised if it happens. Don't you remember that a one time bonus was on the list of things we had to choose between in that benefits survey last fall? Probably depends on what you voted for and what benefits you decided to give away.
When was the last time anyone get a check of 1000 from a company or anyone? Or giving my check to gov ? Ungrateful
vew-You nailed it.
Very few will have the length of service to qualify for the full amount.
Addition by subtraction. They were taught the same ruthless money Grunberg stately that JW from GE, DC and now DA have been taught: turn the business from a profitable company into an ATM machine. Liquidate assets and employees as needed to achieve ultra high revenue and in turn, stock price. Everyone on the outside will think you're the ultimate genius for being able to make so much money but the truth is, the employees know you're just a dipshit with ZERO ability to run a business. Walmart is able to pat these bonuses because they're closing a large chunk of stores. This frees up cash to pay others. HON will do the same; announce a 1% 401k match increase while there is a large layoff in progress. Nice touch, scumbags!
1,000 will go quickly. Walmart / Sam's Club also announced 63 store closings today.
I'll keep the 1% 401k match increase announced in town hall versus a 1k bonus. Much high potential for growth versus a one-time payment.