Lowe’s providing employees with additional pandemic bonus
Lowe's announced that it will provide an additional $100 million in discretionary bonuses to recognize front-line hourly associates.
The move brings Lowe’s commitment to its employees, including previous bonus, and communities during the COVID-19 crisis to more than $775 million this year.
All active hourly associates in Lowe's U.S. stores, distribution centers and store support centers will receive the bonus on Oct. 16. Full-time hourly associates will receive $300, and part-time and seasonal associates will receive $150. The October bonus will match the funds Lowe's provided to all hourly associates in March, May, July and August.
"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," said Marvin Ellison, Lowe's president and CEO. "As we continue to provide extraordinary service to our customers throughout the pandemic, we are pleased to provide this additional bonus as a thank you to our associates for their perseverance and continued commitment to our customers."
Lowe’s Canada, which operates more than 470 stores under various banners such as Rona and Reno-Depot, is also providing hourly employees with bonus payments.
In its latest round of coronavirus relief, Lowe's has provided more than $675 million in incremental financial support to associates this year, the Mooresville, N.C. based home improvement retail giant said.
Along with previous special payments and bonuses, Lowe's increased pay for full-time, part-time and seasonal associates by $2 per hour for the month of April.
Lowe’s also said that it will continue its tradition of closing stores on Thanksgiving to provide associates time off “to recharge with their families.”
Other moves Lowe’s has made during the pandemic include committing more than $100 million to support communities during the crisis, including $55 million in grants to provide much-needed financial relief to rural, minority-owned and women-owned small businesses.
Lowe's also recently launched "Making It…with Lowe's" to offer diverse small businesses across America the opportunity to pitch their products to Lowe's executives for a chance to be sold on Lowes.com and in Lowe's stores.