Please ensure Javascript is enabled for purposes of website accessibility

Tyson to Pay a Second $500 'Thank You' Bonus to Workers, Give Sick Employees 90% Pay

By Rhian Hunt – Apr 29, 2020 at 5:06PM

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 first payment will now arrive in the next few weeks, rather than in July.

Now officially deemed critical infrastructure because of President Donald Trump's executive order aimed at meatpacking plants, Tyson Foods (TSN -2.49%) doubled its "thank you bonuses" to frontline workers and truck drivers today. The company is also offering workers who fall ill almost full pay during their absence, and will implement extra screening and protective measures to slow COVID-19 transmission at its facilities.

The food industry titan originally set aside $60 million from its budget on March 31 to pay a $500 bonus to 116,000 production and distribution workers. The original plan called for these employees, including truckers, to receive the cash this July.

A woman counting a cash bonus.

Image source: Getty Images.

Now, with the pressure increased and the United State's food supply chain in danger of "breaking" according to the company's statements, the employees will get their first $500 bonus in early May instead. Tyson also allocated another $60 million to the "thank you" payments, bringing the total to $120 million and promising a second distribution of $500 checks in July.

The company says it is stepping up health screening with multiple new protocols to help detect workers who may be sick. In addition to temperature scans, employees will be checked for shortness of breath and cough. Tyson is mandating the wearing of "surgical-style" face masks it supplies, and will task factory monitors with watching and enforcing social distancing on the meatpacking plant floor.

Workers who go home sick will now receive 90% of their ordinary pay through June 30, a step taken to ensure unwell employees temporarily leave the workplace, reducing transmission risk. Several kinds of insurance co-pays will also be waived for the time being. The $500 bonuses, however, are conditional on attendance.

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 Stock Quote
Tyson Foods
TSN
$63.89 (-2.49%) $-1.63

*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
338%
 
S&P 500 Returns
108%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 10/07/2022.

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.