THE WHAT? Walgreens has become the latest company to increase its starting wage amidst the ongoing U.S. worker shortage.
THE DETAILS The retailer is increasing the starting salary to US$15 an hour effective October, and is aiming to fully implement the new wage by November 2022.
The increased wage will cost Walgreens around US$450 million over the coming three years, an outlay it expects to absorb partially though the normal course of business.
THE WHY? Walgreens joins the likes of Target, Best Buy and Amazon to increase wages in recent years in a bid to lure in employees following a shortage of workers across the U.S.
Taking to a statement, Walgreens Chief Executive Officer Rosalind Brewer said, that rewarding employees is “highly important to retaining and attracting a talented workforce, and to continuing to serve our critical role in community health care.”