Yum Brands to Fund One-Time Bonuses for Restaurant Managers
March 30 2020 - 09:25AM
Dow Jones News
By Micah Maidenberg
Yum Brands Inc. will pay one-time bonuses to the general
managers who run its restaurants, the latest example of a company
providing additional pay for workers as the coronavirus damages the
economy.
The owner of KFC, Pizza Hut, Taco Bell and the Habit Burger
Grill brands said in a filing Monday that close to 1,200 managers
at its restaurants will receive one-time bonuses of $1,000 "to
acknowledge their efforts managing teams" and provide business
continuity amid the pandemic.
Other companies have said they would pay bonuses to staffers who
are still working, such as CVS Health Corp., which last week said
it would send pharmacists and other workers bonus payments of up to
$500. Retail chain Ulta Beauty Inc. said earlier Monday it would
increase pay for distribution employees by $2 per hour.
Yum Chief Executive David Gibbs will forgo his salary for the
rest of the year, the company said, a move that will help pay for
the bonuses to general managers and for a medical fund, the company
said.
The employee medical relief fund is associated with a Yum Brands
foundation. It will provide grants, including to company and
franchise employees with a Covid-19 diagnosis or those who are
caring for someone with a diagnosis, the company said.
Covid-19 is the name of the illness caused by the new
coronavirus.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
March 30, 2020 09:10 ET (13:10 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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