The retailer will also give out $428 million in bonuses companywide!
In an important move for the retail world, Walmart and all of its affiliates, including Sam's Club, will close down on Thanksgiving. The retailer, and so many others, have been opening for Black Friday sales earlier and earlier in the last few years, starting sale hours into Thanksgiving Day. It will be interesting to watch if other retailers follow suit.
This year, Walmart says that it will remain closed to honor its hardworking employees who've kept everything functioning during the coronavirus pandemic. It will open for the usual Black Friday sales, but hours have not yet been announced.
"We know this has been a trying year, and our associates have stepped up. We hope they will enjoy a special Thanksgiving Day at home with their loved ones,” John Furner, president and CEO of Walmart U.S., said in a statement. “We are certainly thankful to our people for all of their efforts.”
Walmart stores and Sam’s Club locations will operate normal hours on Wednesday, November 25. Information for store and club hours on Friday, November 27, will be shared at a later date.
In addition, the retailer announced a summer bonus for its employees that will total $428 million across all Walmart-related companies.
“Our associates have been working at an incredible pace, they’ve solved problems, and they’ve set an amazing example for others,” Furner said. “To further appreciate their incredible work, we are pleased to share another special cash bonus this summer.”
The bonus will be $300 for full-time hourly associates and $150 for part-time hourly and temporary associates. Drivers, managers, and assistant managers in stores, clubs, DCs, FCs, and Health & Wellness will also receive a bonus.
According to Walmart, this is the third special bonus Walmart has given to associates in 2020, totaling $1.1 billion in bonuses so far this year, in addition to the regular incentive it provides to frontline associates on a quarterly basis.
“Since the beginning of this pandemic, I’ve been so proud to see how our associates have pulled together to take care of each other and our members,” said Kathryn McLay, President and CEO of Sam’s Club. “These are extraordinary times, and our associates have lifted each other up in extraordinary ways, and we are so grateful.”
What do you think about Walmart closing for Thanksgiving? Yay or nay? Let us know in the comments.