10:49 AM EST, 01/23/2025 (MT Newswires) -- (Recasts with Walmart's ( WMT ) statement)

Walmart ( WMT ) said Thursday it is increasing base pay, bonus opportunity and annual stock awards for market managers, the most recent in a series of enhancements to hourly and salaried roles across its US operations.

The market manager responsible for multiple locations and thus is "key for our business and for serving our customers however they shop," the company said in a statement to MT Newswires.

The statement was issued following The Wall Street Journal's report on the pay raise, quoting a company spokesperson as saying that top performers are now eligible to earn up to $620,000 annually.

Walmart ( WMT ) confirmed that base salary for market managers, who are responsible for around 12 stores, will rise to roughly $160,000, while stock grants will reach $100,000, and bonuses will increase to 100% of the base salary, up from 90%, as reported by the newspaper.

Meanwhile, Walmart ( WMT ) is reducing perks for corporate staff, including scaled-back healthcare plans.

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