Target to raise hourly minimum wage to $11 next month

Target boosting workers' minimum wage to $11 an hour

Target, the second-largest discount store retailer in the United States, increased the minimum wage past year to $10 per hour to compete with No. 1 retailer WalMart, which raised its starting pay to that level.

By the end of 2020, Target's minimum hourly wage will be $15, company officials said. The increase will also apply to the more than 100,000 hourly team members Target is hiring for the holiday season. Wal-Mart Stores Inc (NYSE:WMT) increased its minimum wage to $10 an hour past year.

The $11 minimum wage is higher than the lowest legal wage in 48 states.

Of course, one of the problems companies must consider when raising their minimum wage is how much the decision will affect their profits.

The retail giant employs more than 300,000 hourly employees, both at stores and distribution centers.

The controversial House Bill 2, repealed last spring, explicitly forbade local governments from setting their own minimum wages.




On Monday, big box leader and cheap chic extraordinaire Target Corp.

Earlier this year, Target announced a $7 billion plan to improve its e-commerce and open and remodel many stores over the next three years.

The CEO said Target factored the total unspecified wage increases into its sales and earnings outlooks. Global Positioning System have all boosted their own hourly pay for workers.

"Target is a place where we value the individuals who come together as a team to serve our guests", the company said in a statement. "Target posts store schedules in advance, allows store team members to trade and pick up shifts at their store location, and doesn't do on-call or snap scheduling at its stores", the company said.

The Minneapolis-based retailer says all hourly team members nationwide will get $11 an hour starting this October.

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