Lowe’s spending $100 million for another pandemic bonus for workers
Lowe’s Companies continues to reward its workers amid the pandemic.
The home improvement retailer said it will provide an additional $100 million in discretionary bonuses to its hourly workers, bringing the total cost of additional worker compensation to date during the pandemic to $775 million. All active hourly employees in Lowe's U.S. stores, distribution centers and store support centers will receive the bonus on Oct. 16.
Full-time workers will receive $300, and part-time and seasonal workers will receive $150. The October bonus will match the bonuses Lowe's provided in March, May, July and August.
Lowe’s also raised pay for full- and part-time workers by $2 per hour for the month of April.
"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 R. 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 also has committed more than $100 million to support its communities during the pandemic, including $55 million in grants to provide financial relief to rural, minority-owned and women-owned small businesses.
Additionally, Lowe's 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.