MOORESVILLE, N.C., June 29, 2020 /PRNewswire/ -- From the beginning
of the pandemic through recent days as COVID-19 begins to reemerge
in states across the U.S., Lowe's dedicated associates have gone
above and beyond to serve Lowe's communities. Lowe's Companies,
Inc. (NYSE: LOW) today announced $100
million in bonuses to recognize and reward front-line
associates for their outstanding contributions, increasing the
company's total commitment to associates and communities during the
pandemic to more than $450
million.
"This year has been full of challenges and uncertainty, and we
are tremendously grateful for the hard work, dedication and
commitment of our front-line associates," said Marvin Ellison, Lowe's CEO and president. "At
Lowe's, we believe that our homes and our communities unite us, and
we thank our associates for providing our customers with essential
products and services while supporting our communities and medical
professionals."
All active hourly associates in Lowe's U.S. stores, distribution
centers and store support centers will receive the bonuses in
mid-July. Full-time hourly associates will receive $300, and part-time and seasonal associates will
receive $150 – matching the funds
provided to all hourly associates in both March and May.
In addition to these bonuses, Lowe's increased pay for
full-time, part-time and seasonal associates by $2 per hour for the month of April. The company
also previously announced $87 million
in profit-sharing bonuses to front-line associates in June and
continues to offer telemedicine services to all associates and
their families, even if they are not enrolled in Lowe's medical
plans.
The company has also increased its support of communities in
recent weeks, providing a total of $70
million in donation commitments through grants and PPE
product donations to those who need it most, including healthcare
workers and minority-owned small businesses.
For more information about Lowe's ongoing support of associates,
customers and communities during the pandemic, visit
newsroom.lowes.com.
About Lowe's
Lowe's Companies, Inc. (NYSE: LOW) is a
FORTUNE® 50 home improvement company serving approximately 18
million customers a week in the United
States and Canada. With
fiscal year 2019 sales of $72.1
billion, Lowe's and its related businesses operate or
service more than 2,200 home improvement and hardware stores and
employ approximately 300,000 associates. Based in Mooresville, N.C., Lowe's supports the
communities it serves through programs focused on creating safe,
affordable housing and helping to develop the next generation of
skilled trade experts. For more information, visit Lowes.com.
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SOURCE Lowe's Companies, Inc.