Costco Raises Hourly Pay for Most U.S. Store Workers



Costco Raises Hourly Pay for Most U.S. Store Workers


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UNITED STATES - A recently released memo signals a new workforce strategy for club chain Costco Wholesale. The retailer announced it is increasing pay for most of its hourly U.S. store workers, elevating their wages to more than $30 an hour.

Ron Vachris, Chief Executive Officer, Costco
Ron Vachris, Chief Executive Officer, Costco

"With these changes, we believe our hourly wages and benefits will continue to far outpace others in the retail industry," read a memo signed by Chief Executive Officer Ron Vachris.

According to reports from Reuters, Costco plans to increase hourly pay for its top of the scale employees over the next three years, with the pay rising by $1 to $30.20 in the first year and an extra $1 each in the subsequent two years. The bottom of the scale employees will also get an increase of 50 cents to $20.

Costco announced it is increasing pay for most of its hourly U.S. store workers
Costco announced it is increasing pay for most of its hourly U.S. store workers

The pay hike comes after Costco Teamsters union members said earlier this month that they voted in favor of a nationwide strike as they entered the final round of talks to reach a new contract ahead of a Jan. 31 deadline, Reuters reported.

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