Campbell Soup gives coronavirus essential workers $100 weekly payment
Company to also pay $2 per-hour premium for hourly employees at production facilities and distribution centers
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Campbell Soup is giving its essential workers a weekly $100 premium payment for their efforts during the coronavirus pandemic, according to an SEC filing Tuesday.
"These premium payments will be extended to approximately 11,000 front-line team members who make, sell, and distribute products to retail customers across the country," the company said. "These temporary benefits, implemented in response to the COVID-19 pandemic, will be in place for at least five weeks beginning March 29."
This incentive also includes employees who oversee the company's sales execution teams that are in stores and working with customers and independent distributors to ensure that store shelves are stocked.
FACING DEMAND AMID CORONAVIRUS, CAMPBELL SOUP SPEEDS UP ORDERS
The company added that it will give a $2 per-hour premium payment for hourly employees at all of its production facilities and distribution centers.
Cambell Soup is the latest company offering bonuses to its employees after seeing strong demand amid the coronavirus. Companies offering bonuses include Walmart, CVS, JP Morgan and Workday, among others.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 92.64 | +0.14 | +0.15% |
| CVS | CVS HEALTH CORP. | 59.08 | -0.77 | -1.29% |
| JPM | JPMORGAN CHASE & CO. | 246.25 | -3.47 | -1.39% |
| WDAY | WORKDAY INC. | 251.46 | +1.47 | +0.59% |
According to the filing, more cases were ordered from the company's meals and beverages segment from March 16-21 than the entire month of March 2019. Compared to last year, the weekly case order was up 366 percent.
In the company's snacks segment, Campbell's Richmond, Utah, plant produced more than 2 million pounds of Pepperidge Farm Goldfish and cookies for the same week.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CPB | THE CAMPBELL'S CO. | 45.29 | +0.83 | +1.87% |
Campbell's stock closed at $43.50 per share at the end of Tuesday's trading session.