Tuesday, June 6, 2023

Contact us: info@freewavetv.com | Want to advertise with us? Click here

HomeBusinessTo help combat inflation, Lowe's is giving $55 million in bonuses to...

To help combat inflation, Lowe’s is giving $55 million in bonuses to hourly employees

To lessen the effects of inflation, Lowe’s, the American retail company specializing in home improvement, announced on Wednesday that it would be giving $55 million in bonuses to its hourly staff as inflation reaches 40-year highs throughout the summer.

The bonuses will help employees as other expenses like food and housing are still high. The North Carolina-based retail company will also temporarily give its employees a 20% discount on household and cleaning items. 

Interestingly enough, this decision from Lowe’s comes at a time when inflation has been on the decline, with gas prices averaging under $4 this month.

Companies like USAA, Walmart, Microsoft, and more have also granted recent bonuses, pay raises, and gift cards to help their employees combat record-high prices. 

While these bonuses help workers, they are not as helpful as a pay raise. Bonuses are taxed as one-time fees, whereas a pay raise increases workers’ hourly pay.

Lowe’s staff of around 300,000 employees will receive the bonus on September 9 this year.



Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments