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Lowe's Is Providing $100 Million In Bonuses To Employees During Pandemic

August 2, 2020

Lowe's Companies, Inc. has announced that it will provide an additional $100 million of bonuses to support employees "with unforeseen expenses and hardships" during the COVID-19 pandemic.

The home improvement company's total commitment to associates and communities during the pandemic has reached nearly $600 million.

"No one could have anticipated how long we would be navigating this pandemic together. As we approach the start of another school year, our commitment to support our hard-working associates will continue into August," said Marvin R. Ellison, Lowe's president and CEO in a statement. "We are incredibly proud of how our stores, supply chain and corporate associates have faced this pandemic head-on to solve challenges in our communities and care for our customers. We are grateful for their resilience, teamwork and ongoing commitment to safety, and are pleased to share this additional bonus to help with childcare, remote-schooling and other general expenses they are managing during these tough times."

In addition to the multiple rounds of bonuses, the company had increased pay for full-time, part-time and seasonal associates by $2 per hour for the month of April, around the height of the pandemic.

The company continues to offer telemedicine services to all associates and their families, even if they are not enrolled in Lowe's medical plans.

The company will also continue to support communities through grants and PPE product donations, Lowe's said. To date, Lowe's has committed more than $100 million in assistance for health care workers, minority-owned small businesses and rural communities.