Target investing over $75M in employees with another round of bonuses

Employees will be given $200 as a recognition bonus

Target on Thursday announced it would be giving out $200 recognition bonuses to its employees for their efforts over the past six months.  

Ticker Security Last Change Change %
TGT TARGET CORP. 174.67 +2.03 +1.18%

The bonuses will be doled out to all full-time and part-time team members across Target stores and distribution centers, according to the retailer. 

Additionally, all U.S.-based headquarters hourly team members who support the company's guest and team member contact centers will also receive a bonus for their efforts, Target said. 

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The company aims for the funds to hit employees' wallets as soon as next month, according to Supermarket News

Target in Chicago

A cashier places a bag of items in a customer's shopping cart at a Target store in Chicago on Saturday, Nov. 16, 2019.  ( Daniel Acker/Bloomberg via Getty Images / Getty Images)

"Our culture, strategy and success would not be possible without our incredible team at the center of it all," Target’s Chief Human Resources Officer Melissa Kremer said in a statement. 

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The latest round of funds amounts to more than $75 million and is part of the company's ongoing efforts to support employees working during the unprecedented global health crisis. 

The Minneapolis-based company has recognized frontline team members or leaders with bonuses a handful of times during the course of the pandemic with the last one being offered this past January. 

At the time, the company disclosed that it had already spent $1 billion more in 2020 to support its staff compared to 2019.

Aside from its bonuses, the company also raised its starting wage to $15 for all U.S.-based team members.

Representatives for Target have not immediately responded to FOX Business' request for comment.