Tyson Foods Doubles Bonuses; Increases Health Benefits and Protections for Frontline Workers
April 29 2020 - 2:26PM
As part of ongoing efforts to support frontline workers during the
COVID-19 pandemic, Tyson Foods, Inc. (NYSE: TSN) is doubling
bonuses, increasing short-term disability coverage and is also
implementing additional health screening measures.
The company is now offering $120 million in “thank you bonuses”
for 116,000 U.S. frontline workers and truckers, up from the $60
million announced in early April. The company is moving up
the first $500 bonus payment to early May. The second $500 bonus
will be paid in July. Team members who cannot come to work due to
illness or childcare will continue to qualify, but bonus
eligibility will depend on attendance.
Tyson Foods is also increasing short-term disability coverage to
90% of normal pay until June 30, 2020, for team members who are
unable to work due to illness. It is another way of encouraging
team members to stay home when they are sick.
In addition, the company, which has been checking worker
temperatures, will now also take the following measures:
- Screen workers for additional symptoms, such as coughing and
shortness of breath
- Have designated monitors at each facility to help enforce
social distancing
- Require the use of company-provided surgical-style face
coverings
“This pandemic is ever-evolving, and the decision to make these
changes reflects our desire to continuously explore new ways of
supporting our team members through this crisis,” said Mary
Oleksiuk, executive vice president and chief human resources
officer for Tyson Foods. “The safety and well-being of our people
is our top priority as we work together to fulfill our critical
role of feeding people across the country.”
Tyson Foods had already waived the waiting period to qualify for
short-term disability, so workers are immediately paid if they get
sick with COVID-19 or flu like symptoms. In addition, it has:
- Waived the co-pay, co-insurance and deductible for doctor
visits for COVID-19 testing as well as eliminating pre-approval or
preauthorization steps
- Waived co-pays for the use of telemedicine through Doctor On
Demand
- Relaxed refill limits for 30-day prescriptions of maintenance
medication
Tyson Foods formed a coronavirus task force in January and has
implemented numerous measures to protect workers. The company’s
efforts have included:
- Taking worker temperatures and is installing more than 150
infrared walkthrough temperature scanners in its facilities
- Seeking a supply of face coverings before the CDC recommended
their use and now requires them in company facilities
- Doing additional deep cleaning and sanitizing in company
facilities
- Implementing social distancing measures, such as installing
workstation dividers and providing more breakroom space, including
outdoor tents
- Relaxing its attendance policy to encourage workers to stay at
home when they’re sick
For more information and downloadable digital assets for media
use, click here.
About Tyson FoodsTyson Foods, Inc. (NYSE: TSN)
is one of the world’s largest food companies and a recognized
leader in protein. Founded in 1935 by John W. Tyson and grown under
three generations of family leadership, the company has a broad
portfolio of products and brands like Tyson®, Jimmy Dean®,
Hillshire Farm®, Ball Park®, Wright®, Aidells®,
ibp®, and State Fair®. Tyson Foods innovates continually
to make protein more sustainable, tailor food for everywhere it’s
available and raise the world’s expectations for how much good food
can do. Headquartered in Springdale, Arkansas, the company has
141,000 team members. Through its Core Values, Tyson Foods strives
to operate with integrity, create value for its shareholders,
customers, communities and team members and serve as a steward of
the animals, land and environment entrusted to it.
Visit TYSONFOODS.COM to learn more.
Contact: Gary Mickelson, 479-236-9022
Category: IR, Newsroom
Tyson Foods (NYSE:TSN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Tyson Foods (NYSE:TSN)
Historical Stock Chart
From Sep 2023 to Sep 2024