Target giving $200M worth of bonuses to employees

In order to show gratitude for hard work in 2020, Target is giving all of its hourly workers a $500 bonus.

Target said in a press release that the bonuses will go to all hourly team members in stores, distribution centers and at Target's headquarters and field-base offices.

Store directors, executive team leaders and salaried distribution center leaders will also receive a bonus ranging from $1,000 - $2,000. Target says that includes 12,000 employees in total and is a $200 million investment.

"We're so proud of our team. They're the heart and soul of Target, showing up for one another and our guests-and making Target a safe and easy place to shop and work. And never has their dedication, resiliency, care and compassion been more appreciated than during the pandemic," Target said in a release.

According to Target, this is the fifth time the retailer has recognized team members with bonuses for going above and beyond during the pandemic.

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Beginning July 5, Target employees will be eligible to receive a minimum wage of $2 more than the company's current $13 per hour. The federal minimum wage is $7.25.



In the release, the company also mentioned they're continuing to work toward a permanent $15 industry-leading starting wage for U.S.-based employees.

Target began increasing the minimum wage for employees in July 2020. Eligible employees received a minimum wage of $2 more than the company's former $13 per hour. The federal minimum wage is $7.25, a number set back in 2009 in the midst of the Great Recession.

Target will continue its coronavirus benefits into the new year, including "waiving its absenteeism policy for coronavirus-related illness, providing free access to health care through virtual doctor visits for all team members, a 30-day paid leave for vulnerable team members, free backup care to all U.S.-based team members, mental health support through free counseling sessions, and more."

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Target says this is its fourth round of pay incentives during the pandemic to show workers continued gratitude during these unprecedented times.

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