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Home & Garden Lowe's will pay out $100 million in bonuses to ALL frontline workers

01:30  08 october  2020
01:30  08 october  2020 Source:   dailymail.co.uk

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Lowe ' s operates more than 1,720 stores across the US and boasts more than 250,000 employees; a majority of those workers are on hourly wages. The company has already paid out hundreds of millions in bonuses to their staff amid the COVID-19 crisis. Workers received cash bonuses in

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a group of people standing in front of a building: MailOnline logo © Provided by Daily Mail MailOnline logo

Lowe's is set to pay out $100 million in bonuses to all frontline workers as a thank you for their continued commitment amid the ongoing coronavirus pandemic.

From next week, all full-time hourly workers at the chain's US stores, distribution centers and store support centers will receive a one-off payment of $300.

All part-time hourly workers who classify as 'frontline' will receive $150.

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It marks the fifth time this year the retailer has paid bonuses to workers . Including this latest round of bonuses , Lowe ' s will have paid out 5 million in additional compensation to its workers in 2020.

Lowe ' s Companies, Inc. (NYSE: LOW) today announced it will provide an additional $ 100 million in bonuses to assist associates with unforeseen expenses and hardships, increasing the company's total commitment to associates and communities during the pandemic to nearly 0 million .

a sign on the side of a building: Lowe's is set to pay out $100 million in bonuses to all frontline workers as a thank you for their continued commitment amid the ongoing coronavirus pandemic © Provided by Daily Mail Lowe's is set to pay out $100 million in bonuses to all frontline workers as a thank you for their continued commitment amid the ongoing coronavirus pandemic

'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,' company CEO Marvin R. Ellison said in a statement on Wednesday.

The home-improvement giant operates more than 1,720 stores across the US with more than a quarter of a million employees. A majority of those employees classify as hourly workers.

Lowe's has previously given frontline employees cash bonuses in March, May, July and August.

At the beginning of the coronavirus pandemic, the store was forced to temporarily reduce hours across all their stores to allow for excess cleaning.

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Lowe ' s Companies, Inc. (NYSE: LOW) today announced it will provide an additional $ 100 million in bonuses to assist associates with unforeseen The company continues to offer telemedicine services to all associates and their families, even if they are not enrolled in Lowe ' s medical plans.

The bonuses will be paid later this month, Lowe ' s told its employees earlier this week. The North Carolina-headquartered company also said it expects to book additional net tax expenses of roughly million in the fourth quarter of fiscal 2017 due to the Tax Cuts and Jobs Act.

However, most outlets are now back to their normal hours of operation and business is booming.

a group of people standing in front of a store: Business is booming! , Lowe's has witnessed an onslaught of customers undertaking DIY projects and home renovations amid stay-at-home advisories © Provided by Daily Mail Business is booming! , Lowe's has witnessed an onslaught of customers undertaking DIY projects and home renovations amid stay-at-home advisories a person standing in front of a car: A frontline worker is seen helping a mask-clad customer load items into their trunk at a Lowe's outlet in California over the summer © Provided by Daily Mail A frontline worker is seen helping a mask-clad customer load items into their trunk at a Lowe's outlet in California over the summer

Unlike many companies that are struggling across the county, Lowe's has witnessed an onslaught of customers undertaking DIY projects and home renovations amid stay-at-home advisories.

Sales for the company's 2020 second quarter totaled $27.3 billion - a whopping 34 percent on last year.

The company reported total net earnings of $2.8 billion during the same three-month period.

Lowe's has also hired thousands of new workers since the coronavirus pandemic began, and increased their hourly pay by $2 per hour in April.

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Amazon is giving out more than 0 million as a "Thank You bonus " to front - line workers who were with the company throughout the month of June, a move that comes after the e-commerce giant eliminated a hourly wage bump and double overtime pay for frontline workers at the end of May.

Lowe ' s is dishing out the funds to help small businesses, especially home improvement The news follows a $ 100 million commitment from businessman and basketball Hall of Famer Earvin " To all my fellow CEOs out there running large companies: Let's do our part to help the small businesses get

Employees have been delighted by the news, with several taking to Twitter to share their excitement.

Was just saying Monday how Lowe's needs to give us another bonus.  And look today we get an email for another one. Ain't God GOOD!' one wrote.

a man standing in front of a building: Masked customers are seen outside a Lowe's in California back in May © Provided by Daily Mail Masked customers are seen outside a Lowe's in California back in May Read more

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