Walmart to end quarterly bonuses for store workers

Walmart Inc. is phasing out its decades-old quarterly bonuses for store workers, according to the company, as it implements hourly wage increases for hundreds of thousands of its employees.

Walmart has said it will remove the benefit, dubbed “MyShare,” at the company’s fiscal year end on Jan.31, 2022, according to a memo sent to staff discussing upcoming pay increases. “We are integrating MyShare into the base salary of associates going forward,” the memo reads.