Target Makes Good on Pledge to Raise Minimum Wage to $15 an Hour
Several months ahead of schedule, Target has raised its minimum hourly wage to $15. Starting July 5, all Target employees will be making at least $15 an hour. In addition, to reward their work during the coronavirus pandemic, Target employees will receive a bonus of $200. According to the retailer, the minimum wage hike will raise the pay of about 275,000 employees. In some cities, Target employees were already making $15 or more an hour.
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.