Starbucks (SBUX) on Wednesday became the latest company to hike pay for its workers, announcing plans to increase all U.S. hourly wages to at least $15 per an hour, up from the current $12 rate, by the summer of 2022. Yahoo Fiannce's Brooke DiPalma shares the details with Seana Smith.
SEATTLE, October 27, 2021--Starbucks announces operational and wage investments for U.S. partners (employees) and company-operated stores.
With U.S. restaurants nationwide struggling to find enough waiters and cashiers to serve customers, Starbucks Corp on Wednesday said it will give pay raises to workers in the United States with at least two years of employment and offer $200 referral bonuses. Workers with at least two years of employment could get up to a 5% raise and those with at least five years could receive a 10% pay boost in late January, Starbucks said. Average pay for all U.S. workers will range between $15 and $23 an hour, averaging nearly $17 an hour, by summer of 2022, the Seattle-based company said.