It’s certainly one of many massive retailers who’ve raised pay to draw workers in a robust U.S. job market.
Home Depot stated Tuesday it’s investing $1 billion in wage will increase for its U.S. and Canadian hourly workers.
The Atlanta-based residence enchancment chain said each hourly worker will get a raise beginning this month, with some staff already seeing the distinction of their newest paycheck. Starting pay will be a minimum of $15 per hour in all markets.
Home Depot is certainly one of many massive retailers who’ve raised pay to draw workers in a robust U.S. job market, the place unemployment is at its lowest stage since 1969. Walmart introduced in January that it will be elevating its hourly wage to a median of $17.50, whereas Target invested $300 million in hourly wage will increase final yr.
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The pay raises may additionally assist Home Depot head off a fledgling campaign to unionize its shops, which it opposes. Workers at a Home Depot in Philadelphia filed to carry a union election final September, saying workers weren’t benefiting from Home Depot’s sturdy gross sales and shops have been understaffed. Workers on the retailer voted to reject the union in November.
Home Depot employs 437,000 individuals within the U.S. and 34,000 in Canada. The overwhelming majority are hourly staff, the corporate stated. The firm operates 2,000 shops within the U.S. and 182 shops in Canada.
“This investment will help us attract and retain the best talent into our pipeline,” Home Depot’s Chairman, President and CEO Ted Decker wrote in an electronic mail to staff. Decker famous that 90% of the chain’s retailer management began as hourly workers.
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