American retail company Lowe’s is handing out $55 million in bonuses to its front-line hourly employees in an effort to help combat the increasing cost of living.
Lowe’s Chief Executive Marvin R. Ellison announced the bonus scheme during the company’s second-quarter earnings call on Wednesday.
“I would like to personally thank our associates for their hard work and dedication. In recognition of some of the cost pressures they are facing due to high inflation, we are providing an incremental $55 million in bonuses to our hourly front-line associates this quarter,” Ellison said on the call.
“These associates have the most important jobs in our company, and we deeply appreciate everything they do to serve our customers to deliver a best-in-class experience,” Ellison added….