Walmart to spend $428 million on worker bonuses
Walmart said Tuesday that it will give another round of bonuses to hourly employees and close its stores on Thanksgiving Day. The big-box retailer said in a news release that it will spend about $428 million on the bonuses to thank employees for working during the pandemic. Full-time hourly employees will receive $300 and part-time and temporary workers will get $150. The company will pay the bonuses on Aug. 20
walmart retailer bonuses
CNBCRelated Articles
Walmart, CVS, Target and Apple to close some stores amid protests
U.S. retailers large and small have closed some of their stores across the country because of disruptions caused by the widespread street protests over the police killing of George Floyd in Minneapolis. Target, CVS, Apple and Walmart all said Sunday that they had temporarily closed some locations for safety reasons.
apple walmart news target george-floyd cvs
Fox6now
Walmart to discontinue Jet.com
Walmart to discontinue Jet.com
Retail giant Walmart says that the company will discontinue Jet.com, the online-only marketplace that Walmart acquired in a whopping $3 billion deal back in 2016. It was an expensive effort to take on Amazon, “Due to continued strength of the Walmart.com brand, the company will discontinue Jet.com,” the company said in a short statement. “The acquisition of Jet.com nearly four years ago was critical to accelerating our Omni strategy.”
walmart jetcom onlineretail
Techcrunch
Another U.S. Retailer plans to file for bankruptcy
According to the people familiar with the matter, J.C. Penny is planning to file for bankruptcy protection as early as Friday. Its legal advisors are currently preparing documentation for the filing in Corpus Christi, Texas. J.C. Penney employed roughly 90,000 full-time and part-time employees as of February. The company is planning to close 180 to 200 stores while in bankruptcy. The retailer had 846 department stores as of February
us bankruptcy retailer jcpenny
CNBC
Another Luxury retailer files for bankruptcy over debt issues
US luxury retailer Neiman Marcus, saddled with debt and hit by the coronavirus pandemic, filed for bankruptcy on Thursday with a deal to hand its business over to its creditors. The bankruptcy filing will help it eliminate roughly $4 billion in debt that remains as a memento from its sale to private equity firms Ares Management and the Canada Pension Plan Investment Board in 2013.
business luxury neiman retailer
Cnbc