Costco Raises Minimum Wage to $16, But Won’t Advocate for All Businesses to Follow

Costco will raise its company-wide minimum wage to $16 per hour, a one-dollar increase that raises its wages higher than its fellow big-box retailers, the company’s CEO said during a congressional hearing Thursday.

Costco plans to raise its minimum wage from $15 to $16 because it is committed to paying workers “very competitive retail wages,” CEO Craig Jelinek said during a Senate Budget Committee hearing Thursday. Jelinek stopped short of advocating in favor of a federal minimum wage overhaul, instead saying he was solely focused on Costco.

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McDonald’s Ties Executive Pay to Diversity Targets

McDonald’s will tie executives’ pay to diversity goals and aims to hit gender parity in management by the end of 2030 as the company tries to overhaul its workplace culture. Fifteen percent of the company’s annual bonuses will be used to reach these targets, McDonald’s said in the statement.

The world’s biggest restaurant chain on Thursday said the company aims to increase the number of women in leadership roles to 45 percent from 37 percent by 2025. It also wants to boost “historically underrepresented groups” in leadership positions to 35 percent from 29 percent over the same time frame, CNN reported.

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McDonald’s to Hire 260K People in the US as Pandemic Lockdowns Come to an End

McDonald’s plans to hire more than a quarter of a million people over the course of the summer as economic lockdowns continue to slow down, the company announced Thursday.

The restaurant chain will add 260,000 employees as it reopens dining rooms after shutting down amid lockdowns designed to slow the spread of the coronavirus, or COVID-19, according to the president of the company.

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