New York (CNN Business) Costco this week raised its starting wage for hourly store workers in the United States for the second time this year as businesses hike pay to draw and retain workers amid a labor shortage.
Costco COST Amazon AMZN Target TGT Walmart's WMT told employees last week that it would increase its minimum wage from $16 an hour to $17 starting on Monday. Costco has around 180,000 US employees, and 90% of them work hourly. Costco's new starting wage puts the chain— which has among the lowest turnover rates in the retail industry— $2 per hour aboveand other top retailers' minimum wage, and $5 an hour above
Costco's latest pay bump comes as many retailers, restaurants and other service sector employers raise pay, offer signing bonuses and sweeten their benefits packages in response to struggles hiring workers
Costco raised its minimum wage to $14 in 2018 and $15 in 2019. In February, the Issaquah, Washington-based company hiked it to $16 an hour. Business Insider first reported its most recent increase.
"These increases are part of Costco's continuing efforts to ensure our hourly wages remain extremely competitive in the retail industry," Costco CEO Craig Jelinek said in a memo to employees.
lilmawkie on October 28th, 2021 at 04:10 UTC »
They’ve always done right by their employees, and they have happy, productive employees to show for it. SO MUCH BETTER than Sam’s Club, too. Not even in the same league.
jofizzm on October 28th, 2021 at 02:00 UTC »
You mean instead of being a sous chef at a catering company for six years, ending at $14.75, I could fire up the hot dog roller for $17?!?
Good for them. People should be able to not just survive, but thrive with the work they're paid for.
Edit: I decided much abuse ago, family was a no go. Dunno how people afford to raise children. No thank you.
jerkITwithRIGHTYnewb on October 28th, 2021 at 01:04 UTC »
Meanwhile Walmart can’t figure out why nobody wants to work anymore. Good guy Costco.