The increase in salary is NOT for ALL of their workers….
It IS an acknowkedgement that empolyers across the country ARE having probvlems finding good help and keeping them…
We’ll see if out retailer’s follow Target’s efforts …
And?
Will Target’as prices rise to support the increase in payroll?
Or?
Will Target cut it’s work force to compensate for the increased payroll?
Target announced Monday that it is raising its starting wage for workers in some positions to up to $24.
The Minneapolis-based retailer said the increase will apply to hourly workers at its discount stores, supply chain facilities and headquarters.
Target in 2020 set its minimum wage at $15. That will remain in place, but Target said some workers will qualify for higher starting pay based on the nature of their job and the prevailing competitive wages in their local market.
Target (TGT), which employs more than 350,000 workers and has over 1,900 US stores, said the hike in some starting wages is part of its plan to spend an additional $300 million on its workforce. That investment also includes expanding access to healthcare benefits for hourly workers, beginning in April….
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The changes come as more retailers and restaurant chains have moved to a $15 an hour minimum rate.
Amazon (AMZN) raised its starting wage to $15 in 2018, while Best Buy (BBY) bumped up its minimum to $15 in 2020. Walmart (WMT), the largest US retailer, said in September that its workers who handle the front end of the store, food and general merchandise units will get at least a dollar an hour increase to $12. The pay raise would cover 565,000 Walmart workers.
Target’s move comes amid an ongoing worker shortage in the retail industry, partly triggered by the pandemic, as companies across the board struggle to retain and hire more workers….
More…image…ABC.Go.ComTraget wage increase