And many of Target's rivals are now paying a minimum of $15 per hour or more. labor-market dynamics have changed during the pandemic, with many employers facing severe worker shortages. Target set a new marker for the retail industry back in 2017 when it announced it would increase hourly wages to $15 by 2020. ”We want to continue to have an industry-leading position.” “The market has changed," said Target CEO Brian Cornell in an interview with The Associated Press.
The new starting wage range is part of a company plan to spend an additional $300 million on its labor force this year that will also include broader, faster access to health care coverage for its hourly workers It currently pays a universal starting wage of $15 an hour. The Minneapolis-based discount retailer said Monday that it will adopt minimum wages that range from $15 to $24 an hour, with the highest pay going to hires in the most competitive markets. NEW YORK – Workers at Target stores and distribution centers in places like New York, where competition for finding and hiring staff is the fiercest, could see starting wages as high as $24 an hour this year.
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