The Briefing Room
General Category => Economy/Business => Topic started by: Free Vulcan on June 01, 2018, 04:18:06 pm
-
Costco’s hourly employees are the latest U.S. retail workers to get a boost from the Trump tax cuts.
On June 11, Costco will increase the starting wage for its U.S. employees by $1 to as much as $14.50 an hour, while other hourly wage rates will increase 25 to 50 cents an hour.
The raise, to be paid for with part of Costco’s savings from U.S. federal corporate tax cuts that took effect this year, will go to upwards of 130,000 U.S. employees, costing the company about $110 million to $120 million a year before taxes, Costco chief financial officer Richard Galanti said during the company’s fiscal third quarter earnings report Thursday.
https://www.seattletimes.com/business/retail/costco-employees-anticipate-benefits-news-with-quarterly-earnings-thursday/ (https://www.seattletimes.com/business/retail/costco-employees-anticipate-benefits-news-with-quarterly-earnings-thursday/)