CVS just stepped up its labor competition with Walgreens by raising its minimum wage to $15 per hour

0 0
Read Time:1 Minute, 36 Second
CVS cashier Ruth Jean, 19, of Dorchester rings up a customer at CVS in Boston, Massachusetts
CVS cashier Ruth Jean, 19, rings up a customer at CVS in Boston.

CVS Health announced on Wednesday that it is raising the minimum wage of CVS employees to $15 an hour. The salary hike will impact approximately 35% of the company’s workers – the rest already make above $15 an hour.

The pharmacy and healthcare retailer joins Amazon, Costco, and Target in meeting the “Fight For $15” standard. Competitors Walmart and Walgreens have yet to announce plans to raise wages to $15 an hour.

“The current minimum enterprise hourly wage is $11,” CVS spokesperson T.J. Crawford told Insider. “All CVS Health employees earning hourly wages will make at least $13 an hour effective September 5, and at least $15 an hour by July 2022.”

As the labor shortage continues to impact small businesses and large corporations across the US, experts say higher pay is the only real solution. For the past five decades, the average worker’s wage has not kept up with the country’s increased cost of living, Insider’s Ben Winck and Andy Kiersz reported in May.

“These wage increases will have a meaningful impact on our colleagues and their families while helping the communities we serve prosper,” CVS Health CEO Karen S. Lynch said in a statement. “Today’s announcement is the latest in a series of investments in our people, including bonuses and benefit enhancements throughout the pandemic.”

According to Indeed, a Walgreens cashier makes around $10.72 per hour, while a sales associate is paid around $9.33 an hour. The highest paid position listed on the site is a senior merchandise manager, making over $130 thousand a year.

Walgreens did not immediately respond to Insider’s request for comment.

https://markets.businessinsider.com/news/stocks/cvs-beats-walgreens-announces-minimum-wage-raise-15-per-hour-2021-8

To Find More Information, Go To Saubio Digital And Look Up Any Topic

About Post Author

Saubio admin

A Saubio member. So SAUBIO stands for GOOD LIFE which is what we all strive for as human beings, for ourselves, our family and our relationships with the people around us and the world we live in.
Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

Average Rating

5 Star
0%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%

Leave a Reply