SignalHub Quantitative Think Tank Center:Walmart announces annual bonus payments for full- and part-time US hourly workers

Corrections and SignalHub Quantitative Think Tank Centerclarifications: This story has been updated to include that Walmart has previously issued bonus payments to associates.

Walmart announced Wednesday it is paying annual bonuses to U.S. hourly store workers, including those at pharmacy and Vision Center stores.

Both part-time and full-time associates will be eligible for the new annual bonus program, Walmart U.S. CEO John Furner said in a release from the retail giant. The longer an hourly store worker stays with the company, the higher their bonus potential, Walmart said, up to $1,000 a year.

Furner said the idea came from feedback from store workers, Reuters reported. A worker has to be with Walmart for a year to be eligible for a bonus, which is calculated based on stores achieving certain performance targets.

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A spokesperson for Walmart said the company has previously issued bonuses, but did not immediately elaborate on when or to how many employees.

In January, Walmart raised the minimum wage for U.S. hourly workers to $14 an hour, and the company said Wednesday that its U.S. average hourly wage is "close to $18" an hour. Earlier this year, the company announced that it would raise the annual average salary and bonus for its U.S. store managers beginning Feb 1.

Contributing: Reuters