- Target Corporation (NYSE: TGT) announced it is permanently raising its starting wage for its store, distribution, and headquarter employees to $15 an hour starting July 5
Today Target Corporation (NYSE: TGT) announced it is permanently raising its starting wage for its store, distribution, and headquarter employees to $15 an hour starting July 5. This will impact 275,000 employees across the company stores and distribution centers.
Last year, the company raised its starting minimum wage to $13 per hour. In 2017, Target said it had a goal of reaching $15 per hour by 2020. Plus Target is going to pay a $200 bonus for the eligible store and distribution workers by the end of July.
Target has been paying an extra $2 per hour for employees working through the pandemic since March. The pandemic pay is going to end on July 4 following a series of deadline extensions.
“In the best of times, our team brings incredible energy and empathy to our work, and in harder times they bring those qualities plus extraordinary resilience and agility to keep Target on the forefront of meeting the changing needs of our guests and our business year after year,” said Brian Cornell, Chairman and CEO of Target Corporation. “Everything we aspire to do and be as a company builds on the central role our team members play in our strategy, their dedication to our purpose and the connection they create with our guests and communities.”
With the changes that were announced today, Target will invest nearly $1 billion more this year in the health and safety of team members than it did last year, including increased wages, paid leaves, bonus payouts, personal protective equipment, and a donation to the Target Team Member Giving Fund.
“The most important investments we make are in our team. I have tremendous gratitude for the way our team members show up with such purpose and pride for our guests, communities and one another,” added Melissa Kremer, Target’s Chief Human Resources Officer. “These investments help ensure that team members can build meaningful careers, take care of themselves and their families, and contribute to building our communities through their work inside and outside of Target.”
