Walmart plans to hire 150,000 temporary workers and award its hourly paid staff special bonuses totalling $550m as it tackles the coronavirus crisis.

The US retail titan wants new employees to take contracts until the end of May to help the business meet soaring demand.

The temporary roles span Walmart’s sprawling operations across stores, distribution centres and fulfilment centres.

Walmart said “many” of those positions would convert to permanent jobs with the company.

The retailer said it has reached out to the restaurant and hospitality sector to offer temporary roles to employees who have been impacted by the coronavirus pandemic.

In order to bring new workers on board quickly, Walmart has cut the application and interview process from two weeks to just 24 hours.

Walmart boss Doug McMillon said: “We know millions of Americans who are usually employed at this time are temporarily out of work, and at the same time we’re currently seeing strong demand in our stores. We’re looking for people who see Walmart as a chance to earn some extra money and perform a vital service to their community.”

In addition to the new hires, Walmart is also investing in its existing staff, with plans to hand out a $550m bonus pot for the work they have done so far during the outbreak.

Walmart said the move recognised employees’ “hard work and dedication to serving customers in a time of an unprecedented national health crisis”.

Full-time hourly paid staff will receive $300, while part-time workers will be paid $150, adding up to $365m.

A further $180m will be dished out by way of Walmart’s scheduled quarterly bonus payments, which will be paid to staff a month early in April.

McMillon added: “Walmart associates have gone above and beyond the call of duty in serving our customers during these unprecedented times. We want to reward our associates for their hard work and recognize them for the work that is in front of us.”