The Home Depot Spends $1B to Increase Employee Pay

Some businesses are actually thriving during this unprecedented pandemic that hurt so many restaurants, bars, and venues. One of the businesses that is thriving is The Home Depot. The Home Depot has been a leader in the industry for supplies for anything regarding the construction or functionality of your home. You can get tubs, toilets, light fixtures, cabinets, kitchen utensils, electrical equipment, and even lawn gnomes. It seems as though the pandemic hasn’t prevented people from working on their homes. In fact, business is better than ever.

Despite a large dip right when the pandemic hit at the end of March of 2020, The Home Depot’s stock has been climbing to higher numbers than before the pandemic. In fact, the third quarter showed a 20% increase in net profits from the previous years of $3.4 billion. This could be due to people being stuck at home. Some families may take the time to work on things in their home. The Home Depot has decided to share this boost in business with the people who support the company the most- the employees.

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