Monday, March 23, 2009

Wal-Mart to award $2bn to staff

- Wal-Mart to award $2bn to staff:

By Jonathan Birchall in New York

Published: March 23 2009 19:04 | Last updated: March 23 2009 19:04

Wal-Mart has underlined its ascendancy in an otherwise bleak US retail landscape with plans to award about $2bn in financial bonuses and other incentives to hundreds of thousands of its US hourly employees.

The annual package of bonuses, which include cash bonuses and additional contributions to pension savings accounts, comes as several troubled retailers have suspended contributions to their staff’s 401(k) pension savings."