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Wal-Mart awards bonuses

March 20, 2009 3:21:40 AM PDT
The retail giant is dividing up 2 billion dollars among employees.

Wal-Mart Stores Inc. has announced payment of $2 billion this year to its U.S. employees in bonuses, merchandise discounts and retirement contributions.

The world's largest retailer says $934 million of the money went toward bonuses, averaging $666 for each of the company's 1.4 million domestic workers.

Wal-Mart Chief Executive Officer Mike Duke says $789 million was paid in profit sharing and 401(k) contributions and the remainder went to the employee stock purchase plan and merchandise discounts for workers.

In a letter, Duke congratulates employees for Wal-Mart's recent successes in an economic environment that has its competitors struggling.

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