Target gives over $300 million in response to Covid-19 outbreak
Mar 23, 2020
As many retailers step up to fight the new coronavirus Covid-19, Target has announced it will distribute over $300 million to ease the virus's impact, with a focus on added wages, a new paid leave program, bonus payouts and relief fund contributions.
The company, which has kept stores open during thus far during the outbreak, said that all full-time and part-time hourly team members working in its stores and distribution centers will receive a $2-per-hour wage increase through at least May 2.
In addition, U.S. employees who are 65 or older, pregnant or who have underlying medical conditions as defined by the CDC now have access to paid leave for up to 30 days if they prefer not to work.
“With each passing day, it’s clearer how indispensable our team is to communities across the country as our guests cope with the coronavirus,” said Brian Cornell, Target CEO.
“Increasing their compensation for a job incredibly well done and ensuring continued compensation for those who need to care for themselves and their families is a reflection of our company’s values and simply the right thing to do.”
To further help, Target and the Target Foundation will donate $10 million to expand relief and assistance related to the pandemic, marking the company's largest donation ever to a single relief effort.
The $10 million will be distributed between Target team members, as well as local, national and global organizations responding to the outbreak.
One million dollars will go to the Target Team Member Giving Fund, which was created in 2018 to provide assistance to employees who experience unexpected financial hardships. Target said it will also match up to an additional $1 million in contributions from fellow team members who wish to assist their colleagues in need.
Five million dollars will go to state and local community foundations that are supporting nonprofit organizations working in their area, while $3 million will support national nonprofits, including Feeding America.
Finally, $1 million will be donated to organizations that are working to provide critical medical equipment and supplies around the world, including UNICEF, among others.
“Families across the country are counting on Target in so many ways during this pandemic, and our team has been nothing short of remarkable,” Cornell continued.
“The commitments we’re making today will provide additional resources for our most valuable asset—our team—and additional contributions will help support the critical work of our partners in communities impacted by the coronavirus.”
Target said it will continue to monitor the situation and will "provide additional assistance as needed" to its team and partners.
According to the company, 75% of the U.S. population lives within 10 miles of a Target store, and the company employs over 350,000 team members.
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