4 Quotes from Big Companies That Prove Wages Are Rising
The coronavirus pandemic is having cascading consequences on people's lives and business operations. At the onset of the pandemic, governments worldwide thought of businesses in two different categories. They were deemed either essential or nonessential. As a result, those selling goods and services that were essential to people's daily lives were allowed to stay open during the pandemic -- the rest had to sell exclusively online, and workers could only work from home.
Nonessential businesses that had to close furloughed and laid off millions of workers. The essential businesses, like Costco Wholesale (NASDAQ: COST), Home Depot (NYSE: HD), Amazon (NASDAQ: AMZN), and Walmart (NYSE: WMT), experienced a boom in business -- so much so that they had difficulty meeting the surge in demand.
In response, corporations started increasing wages, offering bonuses and other benefits to lure employees to join the company or increase their hours worked. Here are a few quotes from large retailers showing the steps they are taking to secure the staff they need.
Source Fool.com
