The US fashion retailer Target has announced that it will spend as much as US $ 70 million in bonuses for its hourly employees as the holiday season is all set to start.
The fashion retailer, reportedly, will be paying US $ 200 to over 350,000 employees working at stores, distribution centres and contact centres.
The bonuses will be paid by early November.
Target seems to be focused on the wellbeing of its staff ever since the pandemic has disrupted the lives of all.
Here it is important to state that Target had also increased the minimum wages to US $ 15 per hour back in July 2020 – 25 per cent higher than the industry average in the US.
Also Read: Good News! Target Corp. increases wages
With the holiday season nearing, Target said that the announced bonus of US $ 70 million is a part of another round of employee bonus.
In July 2020, Target had given bonuses of US $ 200 to all full-time and part-time employees, in addition to giving performance bonuses to store directors, team leaders and leaders at distribution centres.
More on the latest bonuses announced on Monday (19 October), Target said it has already spent more than US $ 1 billion in 2020 on salaries of it staff, which also includes backup childcare.
The eighth largest retailer in the US, Target generated revenue of US $ 75.356 billion in 2019.
