The pandemic has caused revenues and valuations for a lot of tech companies to soar, but it’s also revitalized one big box retailer too. Lowes announced Thursday a plan to invest $80 million into its frontline workforce with bonuses to recognize their dedication during the pandemic.
Specifically, on Feb 5, all full-time workers in the stores, distribution centers and call centers for Lowes will receive a one-time payment of $300. Part-time workers will get a bonus of $150. This will be the seventh time Lowes has paid out bonuses since the start of the coronavirus pandemic in March, and with this added $80 million in bonuses, it raises the financial commitment the company has made over the past year to almost $1.3 billion in bonus money.
Spring is generally a busy time for home improvement stores like Lowes, and this year they expect the sales surge they’ve seen for the past 10 months continue. That means even more seasonal hires for the company, and they announced they are actively look to fill 50,000 total full and part-time jobs and seasonal positions. “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,” CEO Marvin Ellison said.