Lowe’s Cos. announced Wednesday that it is handing out another round of bonuses to recognize its front-line employees in light of the COVID-19 pandemic.

The company, which has 144 stores in Texas, said all full-time hourly workers will get $300, and part-time and seasonal employees will receive $150 on Oct. 16. The bonuses total $100 million and will affect hourly workers at Lowe’s stores, distribution centers and store support centers, the company said.

The latest bonus will match the money Lowe’s provided to all hourly associates in March, May, July and August, according to the company.

The retailer joins other companies from Amazon to Kroger to Target that have provided their front-line and warehouse workers bonuses. Some have even offered free access to virtual doctor visits during the pandemic.

The Home Depot on Forest Lane was extensively damaged last Oct. 20, when 10 tornadoes caused $2 billion in damage to homes and businesses in Dallas, Richardson and Garland.

With the latest bonuses, Lowe’s will have provided more than $675 million in financial support to its sales associates this year,

Read More

  • Associates at Wall Street investment banks can expect to earn total compensation that, in some cases, exceeds more than $250,000 per year.
  • We tapped data from Wall Street Oasis to determine how much investment banking associates are earning at some of the most prominent firms on the Street.
  • Here’s what banks like Morgan Stanley, Citigroup, Wells Fargo, and JPMorgan Chase pay their associates in salary and bonuses, on average.
  • Are you a young person working on Wall Street? Contact this reporter via email at rhodkin@businessinsider.com, encrypted messaging app Signal (561-247-5758), or direct message on Twitter @reedalexander.
  • Visit Business Insider’s homepage for more stories.

Investment banking associates at firms like Goldman Sachs, Credit Suisse, and Morgan Stanley earn well into the six figures. 

Associates can expect to earn total compensation that, in some cases, exceeds more than $250,000 per year. That’s a combination of their base salary, which exceeds a

Read More

The Pac-12 distributed performance bonuses to employees in its San Francisco headquarters, from commissioner Larry Scott to mid-level managers, approximately one month before half the staff was laid off or furloughed, the Hotline has learned.

Four employees from the Pac-12 Networks confirmed that their bonuses were paid this summer for performance in the 2020 fiscal year. Each requested anonymity because of the personal nature of the issue. One was willing to state the amount of the bonus: $10,000.

All four said they usually received bonuses in September or October for the prior fiscal year and were surprised by the expedited timeline.

Bonuses for employees on the conference side were also paid in July, which is the standard schedule for that division.

One month later, the Pac-12 laid off or furloughed 94 of its 196 employees.

“I have no idea why they changed the schedule, but I was surprised,’’ one networks

Read More

  • ByteDance, TikTok’s parent company, is giving out bonuses this month to all of its more than 60,000 employees around the globe.
  • In a memo first obtained by Bloomberg, ByteDance said the bonuses are intended to thank everyone for their work amid the company’s challenging last few months.
  • The company has faced upheavel this summer as it faces off against the US government’s threats to ban TikTok over its ties to China. Now, ByteDance is close to a deal to sell off TikTok’s US assets to avoid such a ban.
  • Visit Business Insider’s homepage for more stories.

TikTok owner ByteDance is reportedly handing out cash bonuses to its 60,000-plus employees worldwide as the company faces the threats of countrywide bans and the sale of its growing US business.

ByteDance told staff that eligible employees will be getting a bonus, equivalent to half of one month’s salary, Bloomberg first reported. In an

Read More

Just months after Hertz Global Holdings Inc. shelled out $16.2 million in extra pay meant to keep executives from leaving as the coronavirus pandemic decimated the travel industry, the car rental company wants to pass out $14.6 million more in bonuses.

Prior to filing for Chapter 11 bankruptcy in May, the company laid off thousands of employees while handing out retention bonuses or “stay pay” to leaders.

HERTZ SOLD $29 MILLION IN STOCK BEFORE SEC STEPPED IN

At the beginning of the month, the company raised $29 million, selling its likely worthless stock before regulators at the Securities and Exchange Commission raised questions.

Car exiting the empty car rental area at Hertz«s Car Rental Parking area at Miami International Airport (Photo by: Kike Calvo/Universal Images Group via Getty Images)

According to a Saturday report in The Wall

Read More

Shake Shack will offer year-end bonuses to its employees as it continues to recover from the coronavirus pandemic, according to multiple reports this week.

The fast-casual burger chain will grant payments ranging from $250 to $400, Nation’s Restaurant News reported. The employee’s position will determine the size of the payment.

LEBRON BACKS GOODYEAR AMID TRUMP BOYCOTT FLAP

“Taking care of our teams has always been a core tenet of Shake Shack – we couldn’t do this without them,” the company said in a statement to the publication.

The year-end bonuses were announced days after Shake Shack ended a 10 percent hazard pay bonus that employees received during the pandemic. Employees were eligible for the premium pay from the end of April until Aug. 19.

GOODYEAR CLARIFIES ITS POLICY

Read More