The Home Depot, the world's largest home improvement retailer, provided an update on several temporary changes to its business in response to COVID-19.

"As our communities battle COVID-19, The Home Depot is committed to providing the essential needs required to maintain homes and businesses while doing our best to protect our valued customers and associates. This has resulted in several temporary changes to our business as we look out for your safety and the safety of our associates," said Craig Menear, chairman, CEO and president of The Home Depot. "We want to thank our associates and our customers for their patience and cooperation as we work through this challenge together."

Safety Measures

The company has instituted several measures for the safety of its customers and associates, including:

Closing stores early at 6:00 p.m. to allow more time for sanitization and restocking

Limiting the number of customers allowed into stores at one time

Promoting social and physical distancing practices in stores by marking floors and adding signage to help customers and associates maintain safe distances

Eliminating major spring promotions to avoid driving high levels of traffic to stores

Limiting services and installations to those that are essential for maintenance and repair needs in impacted markets

Distributing thermometers to associates in stores and distribution centers and asking them to perform health checks before reporting to work

Expanded Benefits for Associates

The Home Depot has introduced several benefits enhancements to take care of its associates. To-date, the company has:

Added 80 hours of paid time off for all full-time hourly associates and 40 hours of paid time off for part-time hourly associates to be used at their discretion at any time in 2020 and paid out at year-end if not used

For associates who are 65 years of age or older, or determined to be at higher risk by the CDC, added 160 hours of paid time off for full-time hourly associates and 80 hours of paid time off for part-time hourly associates to be used at their discretion at any time in 2020 and paid out at year-end if not used

Providing paid time off for any associate who has contracted COVID-19 until released by a doctor

Providing up to 14 days paid time off for any associate required to be quarantined by a public health authority or the CDC

Providing additional bonuses to hourly associates in stores and distribution centers -- $100 per week for full-time hourly associates and $50 per week for part-time hourly associates

Providing double pay for overtime hours worked by hourly associates

Extended dependent care benefits and waived co-pays

Asked all associates in store support functions who can work from home to do so while continuing to support our frontline associates

Supporting Communities

Weeks ago, voluntarily froze pricing nationwide across product categories in high demand due to COVID-19

Executed a "Stop-Sale" on all N95 masks in stores and HomeDepot.com and redirected all shipments to be donated to hospitals, healthcare providers and first responders around the country

Donating millions of dollars in personal protective equipment (PPE) and other products to hospitals, healthcare providers and first responders

Prioritizing order fulfillment for hospitals, healthcare providers and first responders

Marshalling the resources of our merchandising and supply chain teams to globally source quality products and expedite the availability of needed items