Lowe's to offer $100 million in worker bonuses, add 20,000 seasonal hires

Lowe's Cos. said Friday that it has committed $100 million to additional bonuses for frontline workers, bringing the total amount offered during the pandemic to $775 million. This is the sixth bonus that Lowe's has given this year, and the company raised frontline associate wages by $2-per-hour in April. Hourly associates will receive this latest bonus on Nov. 13. Full-time workers will get $300, part-time workers will receive $150. The home improvement retailer also announced that it would hire 20,000 associates for the holiday season across stores and distribution centers. The company is also filling full-time and part-time roles, as well as 2,500 jobs at regional distribution centers. Lowe's has hired 155,000 workers throughout the pandemic using the seasonal hiring process, but says many have moved to permanent positions. Lowe's stores will be closed on Thanksgiving Day. Lowe's stock is up 34.2% for the year to date while the S&P 500 index has gained 2.5% for the period.

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