Company invests incremental $100 million; Full-time hourly U.S. associates will receive additional $300 and part-time and seasonal associates will receive $150 in July
MOORESVILLE, N.C., June 29, 2020 /PRNewswire/ -- From the beginning of the pandemic through recent days as COVID-19 begins to reemerge in states across the U.S., Lowe's dedicated associates have gone above and beyond to serve Lowe's communities. Lowe's Companies, Inc. (NYSE: LOW) today announced $100 million in bonuses to recognize and reward front-line associates for their outstanding contributions, increasing the company's total commitment to associates and communities during the pandemic to more than $450 million.
"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," said Marvin Ellison, Lowe's CEO and president. "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."
All active hourly associates in Lowe's U.S. stores, distribution centers and store support centers will receive the bonuses in mid-July. Full-time hourly associates will receive $300, and part-time and seasonal associates will receive $150 – matching the funds provided to all hourly associates in both March and May.
In addition to these bonuses, Lowe's increased pay for full-time, part-time and seasonal associates by $2 per hour for the month of April. The company also previously announced $87 million in profit-sharing bonuses to front-line associates in June and continues to offer telemedicine services to all associates and their families, even if they are not enrolled in Lowe's medical plans.
The company has also increased its support of communities in recent weeks, providing a total of $70 million in donation commitments through grants and PPE product donations to those who need it most, including healthcare workers and minority-owned small businesses.
For more information about Lowe's ongoing support of associates, customers and communities during the pandemic, visit newsroom.lowes.com.
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 18 million customers a week in the United States and Canada. With fiscal year 2019 sales of $72.1 billion, Lowe's and its related businesses operate or service more than 2,200 home improvement and hardware stores and employ approximately 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.
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SOURCE Lowe's Companies, Inc.