The cost of almost everything is rising as Americans experience inflation levels not seen since the early 1980s. One national firm is ready to give its employees incentives worth $55 million because wages don’t go as far these days.
The bonus would go to hourly front-line colleagues to support them “during this period of high inflation,” Lowe’s president and CEO Marvin R. Ellison said on Wednesday when announcing the company’s second-quarter sales and profitability results.
“These associates have the most important jobs in our company, and we deeply appreciate everything they do to serve our customers to deliver a best-in-class experience,” Ellison said, according to The Washington Post.
The retailer currently employs over 300,000 people nationally.