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Target said the new round of bonuses is slated to be paid out by early November.

Target plans fourth round of bonuses for frontline workers

$70 million investment includes $200 payments to 350,000 employees

This month, Target Corp. plans to begin paying $200 bonuses to 350,000 frontline workers for their extra efforts during the coronavirus pandemic.

Target said Monday that hourly associates in stores and distribution centers, including seasonal hires, and in customer and employee contact centers will be eligible for the bonuses, which are slated to be paid out by early November. The Minneapolis-based discount store chain noted that the bonus represents a more than $70 million investment in employees as the retailer heads into the holiday season.

“In a year like no other, I’m proud of what this team has accomplished and grateful for the care and connection they’ve provided our guests and communities,” Melissa Kremer, chief human resources officer at Target, said in a statement. “Target’s success this year is a direct result of our team members turning our purpose into action and meeting our guests’ changing needs day after day.”

Target said the latest round of payments marks the fourth time in 2020 that the company is giving bonuses to frontline workers or team leaders. In April, Target announced bonuses ranging from $250 to $1,500 for 20,000 hourly store team leads, who oversee individual departments in Target stores. The bonuses were part of a $300 million package of paid leave and employee relief benefits plus a $2 hourly wage increase through May 2.

Then in mid-June, Target unveiled plans to permanently raise its starting hourly wage to $15, effective July 5, via an upgraded and extended pay and benefits package for its U.S. workforce. The retailer also announced a $200 “recognition bonus” to be paid at the end of July to frontline store and distribution center hourly workers, including full- and part-time staff, for their efforts during the COVID-19 crisis. Also in July, Target paid out performance bonuses to all store directors, executive team leaders and salaried distribution center leaders.

Overall, Target said it plans to invest about $1 billion this year on employee compensation, benefits, health and safety.

Target had announced in September 2017 that it planned to gradually raise its hourly starting wage from $11 to $15 by 2020. Most recently, the retailer had lifted its starting wage to $13 in June 2019.

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TAGS: Coronavirus
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