Home Depot Will Spend $1 Billion On Employee Pay
- 3 years ago
On Tuesday, Home Depot Inc said it will spend around $1 billion more on employees' pay annually.
Business Insider said the company is benefiting from a surge in demand for tools, paint, and building materials in the COVID-19 pandemic.
Overall net sales increased 23.2% to $33.54 billion, beating analysts' estimate of $32.04 billion.
Home Depot have provided staff with temporary weekly bonuses and more hours of paid time off.
The company said some of these will now become permanent, it said.
Business Insider said the company is benefiting from a surge in demand for tools, paint, and building materials in the COVID-19 pandemic.
Overall net sales increased 23.2% to $33.54 billion, beating analysts' estimate of $32.04 billion.
Home Depot have provided staff with temporary weekly bonuses and more hours of paid time off.
The company said some of these will now become permanent, it said.