- Tyson Foods will give out roughly $50 million in year-end bonuses to its frontline and hourly workers.
- The meatpacking company will distribute the bonuses starting this month.
- About 86,000 eligible Tyson workers will get the bonuses that range from $300 to $700.
Meat processor Tyson Foods announced last week that it will pay out $50 million in year-end bonuses to frontline and hourly meatpacking workers. The bonuses will be given starting this month. US companies are fighting to attract new workers and retain employees amid the pandemic.
The one-time bonuses will be given to 86,000 eligible Tyson workers. According to the company, bonuses range from $300 to $700 depending on tenure.
“This is yet another way for us to say thank you and show how grateful we are for our frontline teams’ efforts to keep each other safe, our company strong and our world fed over the past year,” Chief Executive Donnie King said.
Businesses like Tyson Foods have struggled to find enough workers this year due to the tight labor market and safety concerns amid the COVID-19 pandemic.
About 59,000 workers in the meat processing industry were infected with the COVID-19 through January at plants managed by Tyson and competitors JBS USA, Cargill Inc, National Beef Packing Company and Smithfield Foods.
Among the badly-hit businesses is the meatpacking industry. It was hit hard during the pandemic due to the nature of the work, spending long hours in close quarters.
According to Tyson, it has spent more than $500 million in salary increases and bonuses for frontline workers throughout 2020. The average total compensation for its hourly workers tops $24 an hour, including wages and other benefits like medical insurance.
Source: Tank’s Good News