Lowe’s Provides $100M in New Bonuses
Lowe's Cos. is giving more bonuses to workers.
The retailer says it will provide an additional $100 million in discretionary bonuses to recognize front-line hourly associates, bringing the company's total commitment to associates and communities during the pandemic to more than $775 million.
All active hourly associates in Lowe's U.S. stores, distribution centers and store support centers will receive the bonus on Oct. 16. Full-time hourly associates will receive $300, and part-time and seasonal associates will receive $150. The October bonus will match the funds Lowe's provided to all hourly associates in March, May, July and August.
“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.”
Along with the previous special payments and bonuses, Lowe's increased pay for full-time, part-time and seasonal associates by $2 per hour for the month of April. The company will also continue its longstanding tradition of closing stores on Thanksgiving to provide associates time off to recharge with their families.
Lowe's also has committed more than $100 million to support its communities during the pandemic, including $55 million in grants to provide much-needed financial relief to rural, minority-owned and women-owned small businesses. Additionally, Lowe's recently 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.