Wal-Mart Stores, Inc., announced that it made $1.1 billion in contributions to hourly workers' profit-sharing accounts, 401(k), stock purchase plans, and merchandise discounts during the fiscal year ending January 31, 2007.
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Get Your Report Now!Wal-Mart says it contributed:
- $667 million to 815,629 hourly employees in contributions to profit-sharing and 401(k) accounts.
- $51.4 million to 706,389 hourly employees toward the company's associate stock purchase plan.
- $397 million in discounted merchandise through a program that gives hourly employees and their family members 10 percent off merchandise at Wal-Mart.
"Sam Walton strongly believed in making all associates partners in the success of our business and that commitment is as strong as ever today," says Linda Dillman, executive vice president of risk management, benefits, and sustainability at Wal-Mart.
In addition, Wal-Mart awarded more than $529.8 million in bonuses earlier this year to 813,759 Wal-Mart store and Sam's Club hourly employees in the United States.