Target says it will raise its minimum wage as high as $24 per hour this year, depending on the local market. Companies have been raising pay and benefits in an effort to keep and attract workers.
The retail giant currently pays a $15 per hour starting wage, but said Monday that it would begin paying workers wages ranging from $15 to $24. The starting rate will depend on the job, the market and local wage data, among other factors.
The wage increase is a part of $300 million investment in pay and benefits. The company also said it would expand employee access to health care. Hourly employees who work an average of at least 25 hours a week will become eligible for a Target medical plan.
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