Lowe’s providing another $100 million in employee bonuses
Lowe's announced today that it is distributing an additonal $100 million in bonuses to recognize and reward front-line associates for their contributions during the COVID-19 crisis.
The home improvement retail giant said that the move increases its total commitment to associates and communities during the pandemic to more than $450 million.
"This year has been full of challenges and uncertainty, and we are tremendously grateful for the hard work, dedication, and commitment of our front-line associates," said Marvin Ellison, Lowe's CEO and president. "At Lowe's, we believe that our homes and our communities unite us, and we thank our associates for providing our customers with essential products and services while supporting our communities and medical professionals."
According to Lowe’s, all active hourly associates in U.S. stores, distribution centers, and store support centers will receive the bonuses in mid-July. Full-time hourly associates will receive $300, and part-time and seasonal associates will receive $150 – matching the funds provided to all hourly associates in March and May.
Additionally, Lowe's has increased pay for full-time, part-time, and seasonal associates by $2 per hour for the month of April.
The company also previously announced $87 million in profit-sharing bonuses to front-line associates in June and continues to offer telemedicine services to all associates and their families, even if they are not enrolled in Lowe's medical plans.
The company has also increased its support of communities in recent weeks, providing a total of $70 million in donation commitments through grants and PPE product donations, including healthcare workers and minority-owned small businesses.
Based in Mooresville, N.C., Lowe’s operates and services more than 2,200 stores and has over 300,000 associates globally.