Lowe's Cos. is increasing its spending on employees during the COVID-19 pandemic.
The home improvement retailer said full-time hourly U.S. associates in its stores, distribution centers and store support centers will receive an additional $300 bonus in recognition of their work during the pandemic. Part-time and seasonal workers will receive a $150 bonus. The new bonuses, which will be paid out in mid-July, will match the funds provided to all hourly associates in both March and May, and increase the company's total commitment to associates and communities during the pandemic to more than $450 million.
In addition to the bonuses, Lowe's 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.
"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."