The Home Depot Inc. has taken a number of steps to support its employees during the coronavirus pandemic.
In its annual earnings report, the global home improvement retailer said it expanded paid time off for all hourly workers with additional hours to be used at their discretion, which will be paid out at year-end if not used. It also provided additional paid time off for associates aged 65 and older or deemed to be at higher risk. Hourly workers in its stores and distribution centres received weekly bonuses and double overtime pay. And it extended dependant care benefits and waived related co-pays on the benefits plan.
As a result of the actions taken to support employees, the Home Depot incurred a total of about US$850 million of pre-tax expense, according to the report.
“As the COVID-19 pandemic evolved, we anchored to the core values of our company by focusing on two key priorities: working to ensure the safety and well-being of our associates and customers and providing our customers and communities with essential products,” said Craig Menear, the company’s chairman, chief executive officer and president, in a press release.