Target raises minimum wage to $15 & gives $200 bonus to all employees to recognize their work during the coronavirus

• All of Target’s hourly employees will make at least $15 an hour starting July 5.
• Employees will also receive a one-time bonus of $200 to recognize their work during the coronavirus pandemic.
• The retailer had previously pledged to raise its minimum wage to $15 by the end of 2020.

Target said Wednesday it is raising its minimum wage to $15 per hour and will give all hourly employees a one-time bonus of $200.

The $2 per hour raise will apply to employees at stores and distribution centers, beginning July 5. Target had temporarily raised its wages by $2 an hour in March as coronavirus cases rose.

The bonuses, which recognize part-time and full-time employees’ work during the pandemic, will be paid out at the end of July, according to the company, which has more than 350,000 employees and nearly 1,900 stores across the U.S.

Target’s announcement is the culmination of several years of raising employee pay. Three years ago, the retailer announced a plan to increase its starting hourly pay from $10 to $15 over three years. It raised the minimum wage to $13 an hour last June and pledged to raise it to $15 an hour by the end of 2020.

www.cnbc.com/2020/06/17/target-raises-minimum-wage-to-15-an-hour-months-before-its-deadline.html