Costco has announced plans to increase hourly wages for most of its U.S. store workers to over $30 within the next three years. Starting in March, top-scale employees will receive a $1 raise, bringing their hourly wage to $30.20, with an additional $1 increase each subsequent year. Entry-level employees will see a 50-cent increase, bringing their starting wage to $20 per hour.
This decision follows negotiations with the Teamsters union, which represents over 18,000 Costco workers. The union had previously authorized a potential nationwide strike due to stalled contract discussions. However, a tentative agreement was reached just before the strike deadline, averting the walkout.
Costco's CEO, Ron Vachris, stated that these wage adjustments aim to keep the company's compensation and benefits ahead of others in the retail industry.
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