Costco Wholesale's Hourly Pay Increase

SOURCE www.ibtimes.com
Costco Wholesale is increasing hourly pay for most fixed-wage U.S. store workers to over $30 per hour. The pay raise will be phased in over three years, with top-tier employees seeing a $1 increase each year. The decision comes after contract talks with the Teamsters union and could potentially lead to a nationwide strike.

Key Points

  • Hourly pay for top-tier employees to rise to $30.20 in the first year
  • Entry-level workers to receive a 50-cent raise to $20 per hour
  • Teamsters union pushing for improved pay and perks through contract talks

Pros

  • Hourly pay for store workers increased to over $30
  • Phased approach to pay raise over three years

Cons

  • Potential impact of a nationwide strike
  • Opposition from Republican attorneys general regarding DEI programs