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Home Depot Commits To Spend More Than $1B On Employees’ Compensation Annually

By John F. Heerdink, Jr.

As per reports, The Home Depot, Inc. (HD) is committing to spend more than $1 billion on employees’ compensation annually, as the company benefits from growth in demand for paints, tools and building materials due to the COVID-19 pandemic as options for travel or leisure activities have reduced. People are spending more time at home and using their income and time on minor home remodeling and repair work after the lockdown started in March. The increased activity has, however, has also led Home Depot to spend more on its staff working through the health crisis, by offering them temporary weekly bonuses and more hours of paid time off.

“Despite elevated activity for most of 2020, (the home improvement) trend shows no sign of weakening and, if anything, is intensifying as we come into the winter months as consumers will be forced to stay inside more,” stated Neil Saunders, managing director of GlobalData Retail.

The Home Depot, Inc. (HD) is the world’s largest home improvement retailer with retail stores all across North America. The Home Depot sells building materials and home improvement products, as well as lawn and garden supplies, and provides installation, home maintenance, and professional service programs. To learn more about The Home Depot, Inc. (HD), and to continue to track its progress please vista Partners The Home Depot, Inc. Coverage Page

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(Read Original Story: Home Depot to spend $1 billion more on employees' pay as sales surge in Reuters)


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