Lowe’s Cos. said it’s handing out bonuses of up to $1,000 for its more than 260,000 hourly employees and paid maternity and parental leave, according to the Associated Press.
The Home improvement chain, based in Mooresville, North Carolina, is also chaning their benefits for maternity and parental leave as well as offering adoption assistance for the first time.
Lowe’s is now offering a package in which full-time hourly and salaried employees will receive full pay for 10 weeks maternity and two weeks parental leave.
Previously, pay for maternity leave was under the Lowe’s short-term disability plan where full-time salaried employees received 100 percent of pay for six weeks and full-time hourly employees received 60 percent of base pay for six weeks, according to Jackie Pardini Hartzell, a company spokeswoman.
The bonuses, which will be given out to both part-time and full-time hourly workers across all its U.S. facilities including distribution centers, will be paid in addition to Lowe’s long-standing, store-level bonus program.
Lowe's becomes the latest major employer to invest in its workers after Congress approved a tax cut that will help businesses.
Lowe’s joins a list of other national companies likes Walmart Inc., Walt Disney Co. and Starbucks Corp., which are embracing measures like giving out bonuses, enhancing maternity benefits and raising wages.
Lowe’s estimates that the impact of the tax legislation will result in additional net tax expense of about $75 million in the fourth quarter.