“The labor movement is very tight and they’re afraid of losing their workforce,” Harris said. Speaking to CBS News, USC Marshall School of Business finance professor Larry Harris says that higher wages would provide a bigger incentive for a worker to stay with the company. Of course, company bonuses are nothing to scoff at, but given the current labor market climate, they are also seen as a corporate device to retain employees. The same report also noted that Lowe’s made around $90 billion in sales in 2020. ![]() Details about how many of them are “hourly frontline associates” and how much of a bonus each will receive are not known. Additionally, in a continuing effort to promote its workers’ work-home life balance, home and hardware giant announced that it will by offering these same workers 20% limited-time discounts on cleaning and household necessities, per NBC.Īccording to Lowe’s 2020 Annual Report, the company employs over 300,000 workers.
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