Wal-Mart Stores, Inc., says it has awarded more than $529.8 million in bonuses to 813,759 of its hourly employees.
The company paid the bonuses as part of its Associate Celebration Day. The company also announced several new initiatives to recognize performance and service.
Among the new initiatives unveiled were a bonus to recognize employees who have been with the company for 20 years or more and an award program to reward associates who provide outstanding customer service.
The company employs more than 13,400 hourly associates in its stores and clubs with 20 years or more of service.
All Wal-Mart hourly full-time and part-time store associates are eligible for annual "My$hare" bonuses, which are allocated based on store performance. The company also announced that My$hare bonuses would be distributed quarterly rather than annually, to reward performance on a more frequent basis.