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Lowe's Commits Another $80 Mln To Support Hourly Employees

Lowe's (LOW) Monday said it has added a second $80 million special payment to support its associates and customers as coronavirus pandemic continues to wreak havoc.

"The changes we've announced today underscore our commitment to associates and our recognition of their unwavering support for our customers and communities," said Marvin Ellison, Lowe's CEO and president. "We know how hard associates are working to help us keep our promise to communities that we will be here for them during difficult times. We also remain steadfast in our pledge to continue to evaluate and adjust our operations to meet the evolving guidelines from the CDC and local officials around customer and associate safety."

The company said it making another $80 million special payment to all of hourly associates in May, matching the payment it made in March. All full-time hourly associates will receive a payment of $300, and all part-time and seasonal associates will receive $150, increasing Lowe's total commitment to our associates and communities to $250 million.

Previously, the company had announced $80 million in special payments to hourly associates that was paid on March 31. The payment amount was $300 for full-time associates and $150 for part-time and seasonal associates.

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