Amazon, Lowe's to pay bonuses to essential workers
Essential workers to split more than $600 million in bonuses
Amazon and Lowe's are giving thank you bonuses to essential workers who have worked on the front lines of the COVID-19 pandemic.
Collectively, both companies will dole out more than $600 million in bonuses in an effort to recognize and thank employees who have worked during the peak of the pandemic and continue to work as the virus resurges in communities throughout the country.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 198.96 | -3.92 | -1.93% |
| LOW | LOWE'S COMPANIES INC. | 264.94 | +1.91 | +0.73% |
People throughout the country were required to stay home in order to prevent spreading and contracting the virus, but workers deemed essential were manning the frontlines in an effort to keep critical goods flowing. Many had fears of contracting the virus or bringing it home.
In recognizing this, Lowe's plans to distribute $100 million in bonuses for all hourly associates throughout U.S. stores, distribution centers and store support centers beginning this month, the company announced Monday. Full-time associates will receive $300, and part-time and seasonal associates will receive $150.
"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," Lowe's CEO Marvin Ellison said. "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."
Meanwhile, Amazon is offering more than $500 million to its front-line employees and partners who were with the company throughout the month of June.
LOWE'S CLOSING STORES EASTER SUNDAY TO GIVE WORKERS BREAK DURING CORONAVIRUS PANDEMIC
Full-time Amazon employees, Whole Foods Market employees and delivery service partner drivers will receive a one-time payment of $500. Part-time employees will get $250. All front-line Amazon and Whole Foods Market leaders will get $1,000 and Amazon's delivery service partner owners will get $3,000. Additionally, each Amazon Flex driver with more than 10 hours in June will be rewarded with $150.
(iStock/Getty)
GET FOX BUSINESS ON THE GO BY CLICKING HERE
"Our front-line operations teams have been on an incredible journey over the last few months, and we want to show our appreciation," Dave Clark, Amazon's senior vice president of worldwide operations told its employees and partners in an open letter.
In March, when the company was getting a crush of orders, the online retailer announced it would temporarily raise pay by $2 an hour through the end of April for hourly employees.
Likewise, Lowe's also increased pay for full-time, part-time and seasonal associates by $2 per hour throughout April, amid the height of stay-at-home orders.
The additional funds have increased Lowe's total commitment to associates and communities during the pandemic to more than $450 million.
The Associated Press contributed to this report.
