More retailers are raising the minimum wage Macy’s (Meter) with IKEA Announcing that they will increase the hourly wages of workers while providing more benefits, because these companies hope to attract employees in a tight labor market.
Macy’s and IKEA join Target, Amazon, Costco, Walmart, And other retailers that have recently raised minimum wages for workers.
Target and Amazon raised the minimum wage for employees to $15, and Wal-Mart raised the wages of 565,000 American workers by at least $1 per hour in September. Depending on the position, Wal-Mart’s starting salary ranges from US$12 to US$17 per hour.
Macy’s will increase its minimum wage to $15 an hour in May 2022. Department Store Retailer It is said that as wages increase, the average basic wage of workers will be more than $17 per hour, and the average total wage will reach $20 per hour.
Macy’s said it has implemented wage increases in multiple markets and all distribution center workers in phases.
With the increase in wages, Macy’s will also begin to provide workers with a debt-free education program that will pay 100% of tuition, textbook fees and “high school graduation, pre-university, English language study, associate degree and bachelor’s degree “cost of. , Training camps and professional certificates in the Macy’s debt-free network. “
Macy’s said the plan will be launched in February 2022 as part of a $35 million investment in the next four years in cooperation with Guild Education.
In addition, Macy’s said it will provide employees with an additional paid holiday as a flexible benefit day and provide greater flexibility so that they can take a day off on the holiday that is most important to them.
The new incentives are part of the company’s “continuous commitment to attracting and retaining talents critical to its continued growth”.
IKEA has also increased the wages of workers, raising the wages of American employees to $16 per hour. The retailer stated that part of the hourly wage will also start at $17 or $18 per hour, depending on the location.
The company stated that the salary increase will take effect on January 1, 2022 and is applicable to full-time, part-time, temporary and seasonal workers, bringing the average wage of IKEA employees in the United States to $20 per hour.
IKEA has also increased benefits and now provides five weeks of paid vacation for all employees.
As of 10:40 p.m. Eastern Time on Tuesday, Macy’s stock price was $30.48, down 38 cents, or 1.22%.
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