Wal-Mart giving employees pay raises and bonuses

More than 1.2 million Wal-Mart and Sam's Club employees in the U.S. -- including more than 21,000 in Mississippi -- will receive a pay raise in their March 10 paychecks.

The raise is part of the largest single-day private-sector pay increase ever, the company said in a press release, and part of a two-year, $2.7 billion investment in higher pay, better training and additional educational opportunities for its workers.

All employees hired before Jan. 1 will earn at least $10 an hour. Those already earning more than $10 will get their annual pay raise in March instead of on their anniversary date.

The March 10 paychecks for eligible Mississippi employees will include a share of the more than $4 million bonus earned in the fourth quarter based on the performance of their store.

For the full fiscal year, Wal-Mart employees nationwide earned more than $550 million in bonuses, including $12.1 million in Mississippi.

Last year, Wal-Mart U.S. and Sam's Club promoted 4,020 in Mississippi to jobs with higher pay and more responsibility, and 2,040 employees in Mississippi were converted from part-time to full-time.

This story was originally published March 8, 2016 at 3:42 PM with the headline "Wal-Mart giving employees pay raises and bonuses ."