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Loews pays $ 80 million bonus this spring to add 50,000 employees

Loews Companies has announced that the home improvement chain will hire more than 50,000 new store employees this spring and plans to increase its workforce.

The North Carolina-based company announced Thursday that it would pay current workers a $ 80 million discretionary bonus as a way to acknowledge “their continued dedication.”

On February 8, active employees in stores, call centers, and distribution centers will receive $ 300 for full-time and $ 150 for part-time or seasonal, according to Loews.

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This is the seventh time Loews has made a special payment to workers since the pandemic began. In total, we have issued approximately $ 1.3 billion in bonuses over the past year.

During the COVID-19 pandemic, Lowe’s surged in sales as more people worked on projects at home, and retailers hired 90,000 employees to meet demand.

An additional 50,000 workers will have seasonal or full-time jobs prior to spring. This states that Loews is the busiest season.

Marvin R. Ellison, President and Chief Executive Officer of Rowe, said: “We are honored to be an essential business to help our customers keep their homes safe and functional during these very difficult times.”

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Source: Stock News

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