Please ensure Javascript is enabled for purposes of website accessibility

Tyson Foods to Pay $60 Million in Bonuses to Truckers and Frontline Workers

By Rhian Hunt - Apr 1, 2020 at 10:45AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The extra cash is part of a larger set of company responses to the current pandemic.

Tyson Foods (TSN 0.05%) decided yesterday to distribute approximately $60 million in bonuses to truck drivers and other frontline workers who keep its food distribution running efficiently during the coronavirus outbreak. In all, 116,000 employees will receive a $500 bonus, though Tyson won't be cutting the checks until July.

Demand for packaged and processed foods is high right now as people stay at home to avoid COVID-19, stock up on supplies, and eat at their residences rather than going out to restaurants, most of which are closed for dine-in. Two weeks ago, Tyson changed part of their meat production over to retail packaging instead of restaurant cuts to help meet soaring purchases of staples.

Trucks being loaded at a distribution warehouse.

Image source: Getty Images.

Tyson has adapted its operations to the current crisis in several other ways. High-traffic areas at their facilities are subject to extra sanitizing efforts, and workers at the facilities have their temperatures checked daily.

The food processing company also "relaxed" its attendance policy so employees with coronavirus symptoms can stay home. It has waived co-pays for coronavirus testing and is temporarily providing full pay to workers who stay home because of COVID-19 or influenza cases.

Speaking about the upcoming bonuses to frontline workers, CEO Noel White remarked, "Our team members are leading the charge to continue providing food to the nation. The bonuses are another way we can say 'thank you' for their efforts."

Rhian Hunt has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Tyson Foods, Inc. Stock Quote
Tyson Foods, Inc.
TSN
$82.09 (0.05%) $0.04

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
403%
 
S&P 500 Returns
128%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 08/17/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.