One More Reason To Love Target! The Company Is Increasing Its Minimum Wage!

September 26, 2017

© Joanne Zheng | Dreamstime


Target announced on Monday it would increase its minimum wage to $11 this year, and promised to increase it to $15 by 2020. The Minneapolis-based retailer scheduled pay increases in October and would apply pay increases to more than the 100,000 workers Target will hire for the holiday season as well.

Target, which does not typically make wage increases, previously raised minimum wage by a dollar in 2015 and 2016 as a response to labor group requests and fierce compeition by Walmart. According to Chief Executive Brian Cornell, Monday's decision would help Target retain current employees and attract new talent in an increasingly competitive market. This decision will not hurt previously announced full-year and quarterly earnings forecasts according to Target. Check out the full story here!