Lowe's to spend another $100 million in bonuses for hourly staff
(Reuters) - Lowe's Cos Inc (NYSE: LOW) said on Wednesday it would give its hourly staff an additional $100 million in discretionary bonuses, as the home improvement retailer prepares for the busy holiday season.
The company said hourly staff in its U.S. stores, distribution centers and store support centers will receive the bonus on Oct. 16. Full-time staff will receive $300, while part-time and seasonal employees will be paid $150.
The move brings the company's total bonuses during the pandemic to more than $775 million, it said.
Several retailers, including online retail giant Amazon.com Inc (NASDAQ: AMZN) and Walmart Inc (NYSE: WMT), have spent millions in bonuses to compensate staff for catering to a surge in online demand during the COVID-19 pandemic.
(Reporting by Nivedita Balu in Bengaluru; Editing by Krishna Chandra Eluri)