Automatic Data Processing announced that they will send $1,000 to each of its employees, except for corporate officers.

ADP is expected to incur an additional $51 million in expenses because of this latest move. The payment is aimed at reducing any financial struggles that have been brought on by the coronavirus outbreak.

The company is best known for providing human resources services to other companies. As the coronavirus outbreak has spread, ADP’s stocks have decreased. More specifically over the past month ADP shares experienced a 37.3% drop in value. However, this recent action caused a small bump in share value by 1.34%.

The coronavirus outbreak has upended the American economy as companies continue to lay off individuals. Stay at home measures in states across the country have forced businesses to shut or greatly reduce the hours of employees. A $2 trillion stimulus package is set to pass providing some American taxpayers with financial relief through a $1,200 check.

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Economics, Finance and Investing