Tyson Foods to Provide Approximately $60 Million in Bonuses for Frontline Workers
March 31 2020 - 3:33PM
Tyson Foods, Inc. (NYSE: TSN) today announced it will pay
approximately $60 million in “thank you” bonuses to 116,000
frontline workers and Tyson truckers in the U.S. who support the
company’s operations every day to provide food during the COVID-19
pandemic. Eligible team members will receive a $500 bonus, payable
during the first week of July. The bonuses are in addition to other
company-announced efforts to support workers, plant communities and
livestock producers during the global pandemic.
“We’re proud of how our team members have stepped up during this
challenging time to make sure we continue fulfilling our critical
mission of feeding people across America,” said Tyson Foods CEO
Noel White. “Our company recently relaxed our attendance policy and
we encourage our team members to stay at home if they’re exhibiting
symptoms of COVID-19 infection. We’re taking additional
precautionary measures, such as daily temperature checks at all our
facilities and daily cleaning with extra sanitizing in high traffic
areas.
“Our team members are leading the charge to continue providing
food to the nation,” White said. “The bonuses are another way we
can say ‘thank you’ for their efforts.”
The payments are in addition to other changes Tyson Foods has
made to protect and support workers and ensure continuity in the
U.S. food system.
The company is restricting visitor access to its facilities and
relaxed its attendance policy to reinforce the importance of
staying home when sick or to meet childcare needs. It has
implemented the use of temporal thermometers to check the
temperature of team members before they enter company facilities
and expects delivery of infrared temperature scanners following a
successful trial. In addition, the company is offering protective
face coverings for production workers who request them and is
working with the CDC on additional guidance on the use of personal
protective equipment.
Tyson Foods, which has mandatory health care coverage, is
waiving the 5 consecutive day waiting period for short term
disability benefits, so workers can receive pay while they’re sick
with the flu or COVID-19. In addition, it is:
- Waiving the co-pay, co-insurance and deductible for doctor
visits for COVID-19 testing as well as eliminating pre-approval or
preauthorization steps.
- Waiving co-pays for the use of telemedicine.
- Relaxing refill limits for 30-day prescriptions of maintenance
medication.
The company recently announced it has committed $13 million to
support critical needs in local communities where the company
operates in response to the pandemic. This includes $2 million in
grants that will be allocated to non-profit organizations to help
support Tyson team members and the local community. Investments
will be focused on non-profit partners providing emergency response
efforts such as rent and utility assistance, food distribution,
health care, childcare, small business support and other economic
recovery services.
In an effort to help cattle feeders weather the impact of the
pandemic, Tyson Fresh Meats also provided a one-time premium for
cattle harvested the week of March 23rd.
About Tyson FoodsTyson Foods, Inc. is one of
the world’s largest food companies and a recognized leader in
protein. Founded in 1935 by John W. Tyson and grown under three
generations of family leadership, the company has a broad portfolio
of products and brands like Tyson®, Jimmy Dean®, Hillshire
Farm®, Ball Park®, Wright®, Aidells®, ibp® and State
Fair®. Tyson Foods innovates continually to make protein more
sustainable, tailor food for everywhere it’s available and raise
the world’s expectations for how much good food can do.
Headquartered in Springdale, Arkansas, the company has 141,000 team
members. Through its Core Values, Tyson Foods strives to operate
with integrity, create value for its shareholders, customers,
communities and team members and serve as a steward of the animals,
land and environment entrusted to it. Visit www.tysonfoods.com.
Contact: Gary Mickelson, 479-290-6111
Category: IR, Newsroom
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