Workday offering employees two weeks worth of pay as a one-time cash bonus to offset 'unforeseen costs' from the coronavirus crisis

Kevin Moloney/Fortune Brainstorm Tech

Workday CEO Aneel Bhusri

• Workday is offering a one time cash bonus, equivalent to two weeks of pay, to its employees to help offset unforeseen costs brought on by the coronavirus.
• It doesn't apply to the company's executives, Workday says.
• Workday says this is expected to add about $80 million to the company's quarterly expenses.
• Workday says that it's partially a way to help parents who might be working at home but not have childcare support, as schools close amid the spread of the virus.
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Many companies are asking employees who can to work from home, to mitigate the effects brought on by the ongoing coronavirus crisis.

Workday is doing that, and more: It's offering employees a one time cash bonus, equivalent to two weeks of pay, to its employees to help offset unforeseen costs brought on by the coronavirus, according to a blog entry.

The bonus applies to all employees except those at an executive level and will be paid to employees during the first fiscal quarter of the year, ending April 30, 2020. In a new filing, Workday says this is expected to add about $80 million to the company's first quarter and full first quarter and full year fiscal 2021 expenses. Those expenses were not anticipated when Workday issued its guidance for the next quarter on February 27.

This move is, perhaps, the closest thing that a private company has done to provide the kind of universal basic income advocated for by the likes of Rep. Alexandria Ocasio-Cortez and Rep. Tulsi Gabbard, as the spread of COVID-19, the coronavirus disease, continues to disrupt daily life and wreak economic havok.

Workday is headquartered in Pleasanton, CA with international offices in many other countries. All over the world, school districts have closed in a bid to slow the spread of the virus. That creates a challenging situation for parents who might be working at home but not have childcare support.

"With schools and support services moving to virtual experiences or being temporarily suspended, we know our employees need the additional financial support and flexibility. We hope this additional pay will help alleviate some of the pressures," Workday writes in a blog post.

Some of the other perks that Workday has decided to give employees at this time include: expanding its Care.com benefit to 15 days to help those who need childcare, one year of free access to meditation app Headspace, and an expanded sick leave policy for anyone who becomes infected with coronavirus.

The company is also setting up a relief fund to help employees who might need additional support and have "significant hardships."

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