Target pays bonuses, hikes pay by $2 an hour amid coronavirus-induced surge in shopping

KEY POINTS

• Target is increasing hourly workers' wages by $2 an hour until at least May 2.
• The retailer is paying bonuses of $250 to $1,500 to 20,000 hourly employees who oversee store departments.
• Other companies, including Walmart and Amazon, have also announced special bonuses and temporary pay increases.

Shelves where disinfectant wipes are usually displayed is nearly empty at a Target store on March 02, 2020 in Novato, California.

Justin Sullivan | Getty Images

Target is temporarily increasing employees' wages by $2 an hour and giving bonuses of up to $1,500 to thousands of employees as the retailer experiences a surge in shopping during the coronavirus outbreak.

The Minneapolis-based retailer said all employees at stores and distribution centers will get a pay increase until at least May 2. Target said each employee will earn an average of $240 to $480 more during that time frame.

The retailer is paying bonuses of between $250 and $1,500 to 20,000 hourly team leaders who oversee store departments.

The company did not say how much it would spend on the wage increases and bonuses.

Target is the latest company to announce special bonuses or pay increases. Walmart said Thursday it will spend more than $365 million on special bonuses and accelerate its $180 million in scheduled quarterly bonuses. Amazon said earlier this week it will increase workers' pay by $2 an hour as they keep up with a spike in online shopping.