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Target is giving 350,000 workers an extra $200 bonus for the holidays

Brian Sozzi
·2 min read

Target (TGT) employees will find a little extra cash in their stocking this holiday season.

The discount retailer said Monday it will pay a bonus of $200 to frontline employees ahead of the holiday shopping season. Bonuses will be paid to more than 350,000 workers in early November. The total outlay will cost Target more than $70 million. Target says this is the fourth time it has given workers a bonus this year to show appreciation for efforts during the COVID-19 pandemic.

“In a year like no other, I’m proud of what this team has accomplished and grateful for the care and connection they’ve provided our guests and communities,” said Target’s chief HR officer Melissa Kremer in a statement. “Target’s success this year is a direct result of our team members turning our purpose into action and meeting our guests’ changing needs day after day.”

Cashier Nora Poage rings up a purchase at a Target store in Seattle Wash. Friday, Nov. 18, 2005. Last holiday season, Wal-Mart Stores Inc. gave Target Corp. a nice Christmas present: being asleep when it came to deep discounts and not being stocked with some of the must-have items. This holiday season, the world's largest retailer plans to upstage its rival, with trendier fashions and electronic gadgets that appeal to a broader range of its customers.  (AP Photo/Ted S. Warren)
Cashier rings up a purchase at a Target store in Seattle Wash. (AP Photo/Ted S. Warren)

On July 5, Target raised its starting wage for its store, distribution and headquarter employees to $15 an hour. The move impacted 275,000 employees that work at its stores and distribution centers.

The company last raised its starting minimum wage to $13 an hour in June 2019 as part of a commitment unveiled in 2017 to reach $15 an hour by 2020.

Brian Sozzi is an editor-at-large and co-anchor of The First Trade at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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