Tyson Foods Paying $60 Million To Drivers, Frontline Workers

Tyson Foods, Inc. (NYSE:TSN) announced a "thank you" to its 116,000 frontline U.S. workers and drivers that are "feeding the nation" during the COVID-19 outbreak.

The Springdale, Arkansas-based company announced that it will allocate approximately $60 million in bonuses to eligible "frontline workers and Tyson truckers" in a March 31 press release. The company will make the $500 bonus payments during the first week of July.

"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.

In recent days, other transportation companies have increased benefits available to employees serving during the outbreak. 

On March 24, XPO Logistics, Inc. (NYSE:XPO) announced that it will provide an additional two weeks of paid sick leave. On March 23, J.B. Hunt Transport Services Inc. (NASDAQ:JBHT) said that it would pay a one-time $500 bonus to drivers and operations support personnel. On March 20, Landstar System Inc. (NASDAQ:LSTR) said that it would pay its business capacity owners (BCOs) who were diagnosed with the virus or required to quarantine $1,000 per week for up to two weeks.

Tyson Foods' latest announcement follows other actions the company has taken in recent weeks. Tyson Foods previously waived the five-day waiting period for disability benefits as well as deductibles for telemedicine and co-pays for COVID-19 testing.

The company recently pledged $13 million in support to the communities where it has facilities for immediate needs like "rent and utility assistance, food distribution, healthcare, childcare, small business support and other economic recovery services."

Tyson Foods is one of the world's largest food companies with 141,000 employees globally, generating more than $42 billion in sales annually. The company has more than 2,900 drivers and 2,700 power units, according to the Federal Motor Carrier Safety Administration's SAFER system.

"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," concluded White.