[ad_1]
Costco this week raised its minimum starting wage to $ 17 an hour. The move comes less than a year after the company increased wages to $ 16 an hour, the first raise since 2019 when the starting rate was $ 15 an hour.
According to the October 19 memo emailed to TODAY Food by Craig Jelinek, President and CEO of Costco, starting salaries increased for all job titles in the retailer’s stores.
“Starting October 25, 2021, we will adjust the starting hourly wage for new hires in the US to $ 17.00 / hour for service assistants, $ 18.00 / hour for service employees, and $ 18.50 / hour for meat cutters,” said in the memo. “Current US employees earning less than these rates will be moved on their scale to these rates and their target hours will be reset. Please contact your GM or payroll clerk with any questions.”
Costco said the move was driven by the need to keep their pay competitive in today’s job market.
“These increases are part of Costco’s ongoing efforts to ensure that our hourly wages remain highly competitive in the retail industry. We continue to pride ourselves on being able to pay our employees well and offer excellent social benefits. As in the past, we will review the hourly wage scales in connection with the upcoming company agreement. “
The memo ended with Jelinek thanking the Costco employees for everything they do to make Costco a great company.
The federal minimum wage is just $ 7.25 an hour. And President Trump and Joe Biden agree on one thing – that’s not a lot of money to live on. But they don’t agree on what to do about it. Do you think you know which side you are supporting? It’s more complicated than you think.
As service and retail workers endure the harshness of the pandemic’s aggravated workforce, U.S. companies have been forced to reconsider the wages they are paying – and the federal minimum wage, which has been a hot topic since President Joe Biden, brought the issue in the foreground. Today Starbucks announced that it would raise its minimum salary in the US to $ 15
Companies like Costco are also trying to take advantage of an incredibly tight labor market, where many workers are tired of low wages and poor public treatment.
According to Business Insider, Costco has earned a solid reputation among workers who have paid vacation and, in many cases, health benefits. The average tenure of a Costco employee is approximately nine years, and more than half of the employees earn over $ 25 an hour.
Most recently, the warehouse chain rolled back the restrictions on purchases for items such as toilet paper, paper towels, mineral water and some high-demand cleaning products. The move came in response to supply chain issues like shipping delays and a shortage of truck drivers as Costco tries to keep the shelves in stock for its members.
This story first appeared on TODAY.com. More from TODAY:
[ad_2]
Source link
