Lowe’s is giving $100 million in bonuses to frontline workers
Lowe’s announced it will give all hourly frontline workers $100 million worth of bonuses on November 13, ahead of holiday season.
Full-time hourly associates will receive $300, and part-time workers will get $150.
The company will also hire 20,000 seasonal workers at stores and distribution centers.
Lowe’s may see a rise in online orders during the holidays. Sales made on Lowe’s website increased by 135% year-over-year as of August.
Lowe’s is giving frontline workers $100 million worth of bonuses ahead of holiday season.
All hourly workers at Lowe’s stores, distribution centers, and call centers will receive a bonus on November 13 to “support customers preparing their homes for holiday celebrations,” the company said in a release. Full-time hourly workers will receive $300, and part-time or seasonal employees will get $150.
The company said it has spent $775 million on bonuses for workers during the pandemic. Lowe’s previously gave hourly workers bonuses in March, May, July, August, and October, per the release.
The company will also hire 20,000 seasonal workers at stores and distribution centers. Fellow retailers like Walmart and Amazon have already begun hiring thousands of workers to meet holiday demand.
Since COVID-19 cases continue to rise in the US, and the risk of exposure increases indoors, this year’s holiday shopping season could look significantly different. Research firm eMarketer (which is owned by Business Insider’s parent company) predicts US holiday ecommerce sales will surge by 35.8% this year, while two major mall owners filed for bankruptcy on November 2.
Sales made on Lowe’s website increased by 135% year-over-year back in August. Lowe’s CEO Marvin Ellison said on a recent earnings call that the company’s growth this year stems from consumers’ increased demand for home improvement goods while they spend less on dining out and vacationing. Ellison said he sought to improve Lowe’s online capabilities, specifically Lowes.com, since he became CEO in 2018.
“It was very obvious that the fundamental things that world-class retailers do very well were absent here,” Ellison said during a September virtual conference hosted by Goldman Sachs.