© Reuters. A masked customer leaves with purchases while other customers queue to enter Costco Wholesalers in Chingford, Britain
(Reuters) – Costco Wholesale Corp (NASDAQ 🙂 is raising the minimum hourly wage for its staff to $ 16 starting next week, a dollar more than its competitors Amazon.com Inc (NASDAQ 🙂 and Target pay. Corp (NYSE 🙂 time. The members-only retailer’s move comes as US President Joe Biden plans to raise the minimum wage to $ 15 an hour by 2025, and a week after rival Walmart (NYSE 🙂 Inc raised his salary. per hour at an average of $ 15. Costco CEO Craig Jelinek made the announcement at a hearing of the US Senate Budget Committee on the wages of workers in large companies. (https: // “It takes a long time to interview, find employees, a lot of work involved just to hire individuals. We want people to stay with us,” Jelinek said, responding to Senator Bernie Sanders, who chairs the Senate Budget Committee. Issaquah, Washington-based Costco, which has more than 180,000 employees in the US, has seen a sales boom during the COVID-19 pandemic as consumers stocked their pantries. workers during the virus outbreak. “In my past experience, wages don’t usually put people out of business, the way you run your business will put you out of business,” Jelinek told the hearing. Increase your hourly wages, many small businesses have opposed a federal minimum wage of $ 15, saying it would lead to job cuts and closures.