Costco CFO Richard Galanti has announced an additional $2 pay an hour as customers carry on panic buying amid the global outbreak. It has seen a major surge in demand as people try to stock up on essential products like soaps and toilet paper.
“In recognition of your hard work during this unprecedented time, all full-time, part-time, and limited part-time hours hourly Costco employees in the US and Puerto Rico will receive an additional $2 per hour for hours worked during the five week of March 2 through April 5, 2020,” Costco stated.
The company also had to place restrictions over products to curb overbuying and to stop people from stocking up due to panic caused by a novel Coronavirus. It is also joining other major retailers to set up certain shopping hours for the elderly and implemented new rules to observe social distancing to ensure safety. Furthermore, they are asking customers to wait outside to ensure ideal distance between buyers. Costco has also refused from taking returns of essential items like hand sanitizer, water, paper towels, rice and Lysol.
Target, an American retail corporation, also in a similar move announced an increase in pay by $2 an hour for its workers through at least May 2.
“Families are counting on Target for critical supplies during this challenging time, and we’ll continue to do all that we can to keep our stores open. For weeks, we’ve been responding to the impact of the Coronavirus by taking care of our team, rigorously cleaning our stores and helping our guests find the food, medicine and other essentials they need for themselves and their families,” said Brian Cornell, Chairman and CEO of Target.
A similar situation was seen in India when Prime Minister, Mr. Narendra Modi, announced a complete lockdown of 21 days for the country and people rushed to stock up grocery products as panic struck among families. A strict police force is at its duty to ensure people follow social distancing and do not roam about without any cause.
