BJ’s Wholesale Club, the US retailer, has recorded an US$11.7m pre-tax charge to settle a claim over classifying various employees as exempt from overtime wages.
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Under the settlement, which still requires court approval, certain current and former mid-level managers will be eligible to receive payments to compensate them for particular hours worked in prior years.
“BJ’s Wholesale Club values the role each team member plays in serving our members and helping our company succeed and grow,” said Sue Hoffman, SVP and chief personnel officer. “As such, it was important that we move quickly to address and resolve this matter.”
BJ’s said that it is compliant with applicable federal and state wage and hour laws.
“The settlement of the lawsuit is not an admission on the part of the company of any wrongdoing,” the group emphasised.
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