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Lowe's is giving $55 million in bonuses to hourly workers because of high inflation

Catherine Muccigrosso, The Charlotte Observer on

Published in Business News

Lowe’s store employees will soon see bonuses in their paychecks.

The home improvement retailer is giving $55 million in bonuses to its hourly workers in stores during this time of high inflation, Lowe’s CEO Marvin Ellison said Wednesday during the second quarter earnings report.

“These associates have the most important jobs in our company and we deeply appreciate everything they do to serve our customers,” Ellison said.

Employees will see the bonus Sept. 9, Ellison said during a roundtable discussion with Charlotte reporters following the earnings call.

The incremental bonus depends on whether the employee is full time or part time, and other factors, Ellison said.

Lowe’s has 1,969 home improvement and hardware stores in the U.S. and Canada, and employs about 300,000 people. The company has more than 12,000 employees in the Charlotte area, including about 7,000 corporate workers, The Charlotte Observer previously reported.

 

Lowe’s gave seven similar pandemic-related employee bonuses in 2020 and 2021. The last $80 million round in February 2021 provided $300 for full-time employees and $150 for part-time and seasonal workers.

Lowe’s workers’ flexible schedules

Lowe’s also has recently begun offering more scheduling options for full-time workers. That includes a fixed four-day work week, fixed days off or the option to choose preferred shifts, said Joe McFarland, executive vice president of Lowe’s stores.

This helps employees improve work-life balance and enables Lowe’s to stand out from other retailers, he said.

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