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Target Awards Employees Fourth Bonus This Year

Target will be awarding $200 bonuses to 350,000 front-line staff ahead of the holidays. That's its fourth such employee award this year.

Target  (TGT) - Get Target Corporation Report said on Monday that it would award $200 bonuses to 350,000 front-line employees for their efforts during the pandemic.

The overall $70 million holiday-season bonus will go to eligible hourly staff in stores and distributions centers. The bonus also will go to seasonal hires and hourly staffers who support Target’s contact centers.

The bonus is the fourth Target has awarded this year. The awards are part of around $1 billion the company this year has set aside for employees' well-being, health and safety during the coronavirus pandemic. 

That set-aside includes its July 5 report that it set $15 an hour as its starting minimum wage, the Minneapolis retailing giant said.

In July Target awarded a pair of bonuses: $200 to full-time and part-time staff in stores and distribution cents; and performance bonuses to store directors, executive-team leaders, and distribution-center leaders. 

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And in April Target gave between $250 and $1,500 to 20,000 store team leaders who supervised individual departments.

Target said in September that it planned to focus its temporary workforce on fulfilling online orders this holiday season. 

The retailer said it would hire 130,000 workers for the holiday season. A majority of them will manage in-store pickups for online orders and same-day curbside deliveries.

The company is doubling the workforce in these contactless deliveries, compared with a year earlier.

Target shares at last check were trading up 0.2% at $165.25. The stock is trading around its 52-week high. It's up more than 80% off its 52-week low above $90, set in early April.