World News

Mondelez raises hourly wage, hands out weekly bonus as virus worries fuel demand

(Reuters) – Mondelez International Inc <MDLZ.O> on Monday said it would increase hourly wage by $2 and pay a $125 weekly bonus for its sales representatives as it rushes to meet a surge in demand for its packaged food due to the coronavirus outbreak.

Consumers have been stockpiling on essential goods and packaged foods in the past few weeks as more U.S. states go into lockdown to contain the fast-spreading virus, which has killed over 400 in the United States.

Retail giants Inc <AMZN.O> and Walmart Inc <WMT.N> have also temporarily raised pay for their hourly U.S. workers, while Jif peanut butter maker J.M. Smucker <SJM.N> said on Monday it would give a $1,500 one-time bonus to each of its 5,700 employees on duty.

Mondelez said the hourly wage hike is effective immediately, through May 2.

(Reporting by Nivedita Balu in Bengaluru; Editing by Sriraj Kalluvila)