Costco has broken through the $15 minimum wage barrier ...Middle East

Quartz - Economy

Costco has set a new minimum wage standard: $16 an hour.That puts the warehouse-style retailer, which topped $4 billion in profit in 2020, ahead of rivals including Amazon, Target, and Best Buy.At a Feb. 25 US Senate Budget Committee hearing on wages at large companies, Costco CEO Craig Jelinek said the company will hike its minimum hourly wage to $16 beginning next week. Costco, which is headquartered in Washington state, has more than 800 stores and 180,000 US workers, 90% of whom work hourly. Two years ago, it increased its minimum wage to $15 an hour.Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.

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Last updated : 25 February 2021 clock 09:30 PM

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Costco has broken through the $15 minimum wage barrier ...Middle East

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