Lowe’s has allotted an additional $80 million in discretionary bonuses for frontline associates and plans to hire more than 50,000 new associates across the U.S. in advance of the busy spring home improvement season.
The latest bonus brings the company’s COVID-19 support of associates and communities to nearly $1.3 billion. Active hourly associates at U.S. stores, distribution centers and call centers will receive the bonus on Feb. 5. Full-time hourly associates will receive $300, while part-time and seasonal employees will receive $150. This will be the seventh bonus or special payment Lowe’s has provided to hourly associates during the pandemic.
The additional 50,000+ seasonal and full-time retail associates builds on the more than 90,000 associates Lowe’s hired into permanent roles over the past year.
Lowe’s has been a key beneficiary of the boom in home improvement spending, as homebound consumers funneled money they normally would have spent on travel, outings and apparel into their abodes. The retailer reported a 30.4% increase in comparable sales from 2019 in Q3 2020 and a 106% increase in online sales.
“As we approach spring, I am enormously proud of the way our associates have served customers and supported each other this past year through an unprecedented health crisis,” said Marvin R. Ellison, President and CEO of Lowe’s in a statement. “We are honored to be an essential business to help our customers keep their homes safe and functional during these very challenging times. We’re pleased to provide this additional bonus to support our current associates and excited to welcome these new associates so we can better serve customers across the country.”
The company committed more than $150 million to support communities last year — including more than $100 million in pandemic-related relief — in the form of grants to rural, minority-owned and women-owned small businesses; supplies; and support to areas hit by wildfires, hurricanes and other natural disasters.