Costco raising minimum wage to $14 an hour
Source: The Hill
Retail giant Costco said Thursday that it would raise its starting minimum wage to $14 an hour, a $1 increase for entry level positions.
MarketWatch reported that the company will also raise wages for other hourly workers by up to 50 cents.
The changes will take effect on June 11 and are expected to affect 130,000 employees.
Costco finance chief Richard Galanti said that the change is expected to cost between $110 million and $120 million annually, but that due to the new GOP tax law, the company expects a 7 percent drop in its tax rate, according to MarketWatch.
Read more: http://thehill.com/blogs/blog-briefing-room/390210-costco-raising-minimum-wage-to-14-an-hour
Bengus81
(6,939 posts)rurallib
(62,483 posts)a very exclusive club
videohead5
(2,190 posts)Is run by Democrats.
ProudMNDemocrat
(16,899 posts)As Walmart and Sam's are run by the Republican Waltons, who screw their employees and suppliers at every chance they get to increase their bottom line profits.
Costco has a good business model that other companies should follow if they want to see the overall economy improve.
Le Gaucher
(1,547 posts)dalton99a
(81,708 posts)leftynyc
(26,060 posts)I've already convinced 4 different families to switch from sams club to costco.
LittleGirl
(8,292 posts)Purchased two vehicles through them and just last year, got 400 bucks in points from using my card everywhere.
I love that they pay their employees a living wage. Happy to be one of their customers.
SnowCritter
(810 posts)It will be a welcome addition to the community.
YOHABLO
(7,358 posts)appalachiablue
(41,204 posts)President Obama and spoke at the DNC.
"Jim Sinegal, Former Costco CEO And DNC Speaker, Explains Why Democrats Love Costco," HuffPost, 2012
https://www.huffingtonpost.com/2012/09/06/jim-sinegal-costco-dnc_n_1861203.html