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|HRL||HORMEL FOODS CORP.||49.02||+0.11||+0.22%|
“Throughout this pandemic, our number one priority has been to keep our team members safe, especially those who are not in a position to work remotely,” Jim Snee, Hormel president and CEO said in the statement. “Along with so many other essential food industry workers, we are doing our part to make sure people can find food at grocery stores, restaurants through carryout and delivery, and even food pantries.”
The cash will include $500 for full-time workers and $150 for part-time workers, according to Hormel, which also committed a separate $4 million in cash bonuses earlier this month.
When the second bonus is paid during the first week in July, full-time employees will have received a total of $800 while part-timers were paid $300, the company said.
Hormel has invested in personal protective equipment and facility redesign for social distancing, among other safety and prevention measures. The company is also providing to all team members impacted by COVID-19.
“Our production workers are our front line,” Snee said on FOX Business Network in March. “Cleary, we are thankful for all the health care workers that are on the front line dealing with the virus, but our production workers are the backbone of our organization right now. They are on the front line and they are doing incredible work with a sense of responsibility and pride. They don’t have the opportunity to work remotely. They don’t have the opportunity to work from home. So they are showing up and they are showing up in a big way.”
Hormel is not alone in providing special incentives to essential workers in the outbreak.
TravelCenters of America, a full-service food and auto-service company, rolled out a plan to help its more than 21,000 employees still working with guaranteed cash. Amazon also announced initiatives to help employees. The company said it would pay workers at its U.S. fulfillment centers an extra $2 per hour through April and expects to spend $350 million in wage bumps in the United States, Europe and Canada.
Earlier on Thursday, shares of Hormel were down 2 percent.