In a move that matches rivals like Walmart and TJX Cos stores T.J. Maxx, Marshalls and HomeGoods, Target announced that it will be raising the minimum wage for all workers to $9 in April, according to a new report.
Though the company has not commented on the new minimum wage saying it doesn’t disclose wage levels, Reuters says a source familiar with the matter says the increase will happen next month.
Now that retailers like Walmart and Target are responding to pressure from labor groups and others calling for a “living wage,” the next group likely to be targeted could be drug store chains like Walgreens, Rite Aid and CVS.
Target executives had said recently that it would make adjustments based on the circumstances of each local market, because things are different in New York City or North Dakota, which is experience a big oil boost in the economy right now. Paying $9 wouldn’t attract workers in those areas, Chief Financial Officer John Mulligan noted earlier this month.
“It’s about being competitive locally at a store level within a marketplace,” he said.
However, it seems Target isn’t immune to pressure from advocacy groups that have been pushing for higher minimum wage rates.
“As retail workers, we’re glad to see that the pressure we are putting on Walmart is translating to real raises for our co-workers throughout the industry,” Barbara Gertz, a member of the labor group OUR Walmart, said in a statement. “We are encouraged by Target’s actions today and will continue to fight for $15 an hour.”
Target to lift minimum wage to $9 an hour, matching rivals [Reuters]
by Mary Beth Quirk via Consumerist
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