Lowe’s confirmed Wednesday it will give hourly employees an additional $100 million in bonuses, citing strong demand for home improvement projects as the novel coronavirus pandemic enters its eighth month.
The announcement marks the sixth time since March that the big-box home improvement retailer has provided workers in its stores, distribution centers and support centers additional pay in response to the public health crisis, CNBC reported.
INBOX: "Lowe's Companies, Inc. today announced it will provide an additional $100 million in discretionary bonuses to recognize front-line hourly associates for their continued service and support of Lowe's communities .."$LOW
— Carl Quintanilla (@carlquintanilla) October 7, 2020
The bonuses, which recognize associates for their “continued service,” will be distributed Oct. 16, Fox Business reported.
Specifically, full-time employees will receive an additional $300, while part-time and seasonal employees will get an extra $150, the outlet reported.
“Throughout the spring, summer and now into fall, our front-line associates have shown remarkable resilience and dedication to our communities in the most trying times we have faced together,” Lowe’s CEO Marvin Ellison said in a prepared statement. “We are pleased to provide this additional bonus as a thank you to our associates for their perseverance and continued commitment to our customers.”
The latest round of bonuses is valued at roughly $100 million, bringing the company’s total investment in COVID-19 relief funding for employees and communities to more than $775 million, Fox Business reported.
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