Costco is initiating pay raises for most of its hourly U.S. workers, with hourly rates exceeding $30. The new wage structure, effective in March, awards an extra $1 per hour to top-tier employees, with promises of similar raises for the next two years. These changes respond to pressures from unions amid negotiations for better pay and benefits, especially as retention remains a challenge for the retail sector. The strategy aims to keep workers engaged and reduce turnover rates prevalent in the industry.
Costco CEO Ron Vachris announced a pay raise for hourly U.S. workers, increasing rates to over $30 an hour to improve employee retention and satisfaction.
Starting in March, U.S. workers at the top of Costco's pay scale will receive a $1 raise, bringing their hourly wage to $30.20.
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