Target Putting an Additional $300 Million Toward Increased Wages
In a news release today, Target (NYSE: TGT) announced that it is raising all hourly wages paid to its associates by $2 per hour, effective immediately and continuing "at least" through May 2. The company says these bonuses will give both part-time and full-time workers anywhere from $240 to $480 more during the period. Hourly team leads who oversee store departments will additionally receive bonuses ranging from $250 to $1,500, slated to be paid in April.
Image source: Target.
Simultaneously, the company is offering paid leave to people who might be highly vulnerable to the coronavirus. These include employees with medical conditions, who are pregnant, or who are 65 years old or older. Workers can take up to 30 days of paid leave under this policy. Target is also providing confirmed illness and quarantine pay and temporarily waiving its absenteeism policy.
Source Fool.com
