Lowe's announced today that it plans to pay its front-line associates an additional $80 million in discretionary bonuses.
The home improvement retail giant also said that it and plans to hire more than 50,000 associates across U.S. stores this spring.
The latest bonus brings the company's total commitment to associates, communities, and store safety expenditures during the COVID-19 pandemic to nearly $1.3 billion, Lowe’s said.
Active hourly associates at U.S. stores, distribution centers, and call centers will receive the bonus on Feb. 5 in recognition of their continued dedication. Full-time hourly associates will receive $300, and part-time and seasonal associates will receive $150.
This marks the seventh bonus or special payment that Lowe's has provided to hourly associates since the pandemic emerged in 2020.
The Mooresville, N.C.-based retailer also said that it preparing for its busiest season. Lowe's is also actively filling seasonal positions and permanent full-time and part-time roles at stores to help customers purchase essential products and services during the pandemic.
With plans to hire 50,000 seasonal and full-time retail associates, the move builds on the more than 90,000 associates hired into permanent roles over the past year.
"As we approach spring, I am enormously proud of the way our associates have served customers and supported each other this past year through an unprecedented health crisis," said Marvin Ellison, Lowe's president and CEO. "We are honored to be an essential business to help our customers keep their homes safe and functional during these very challenging times. We're pleased to provide this additional bonus to support our current associates and excited to welcome these new associates so we can better serve customers across the country."
Lowe's and its related businesses operate or service more than 2,200 home improvement and hardware stores and employ approximately 300,000 associates.