Walgreens on Tuesday became the latest large company to increase its initial pay for workers to $ 15 an hour amid a national push among companies to attract more employees.
The company said in a statement that the salary increase would occur in phases starting in October, and that the new initial payment is expected to be fully implemented in November 2022.
Roz Brewer, CEO of Walgreens Boots Alliance, said business leaders see the pay rise as an essential investment in their workforce.
“I am extremely proud and grateful for the work that team members do at Walgreens’ 9,000 locations serving our customers, patients and communities every day, ”he said in a statement.
“Investing and rewarding our team members is not only right, but it is very important to retain and attract a talented workforce and continue to serve our critical role in community health care,” Brewer added. .
The chain of pharmacy stores said it expects to spend $ 450 million over the next three years to cover the salary increase, noting that it plans to at least “partially absorb the investment during the normal course of business.”
Several other companies have increased their hourly wages due to workers ’demands to meet the value of their work, as well as to attract more employees, as companies seek to compensate for the losses suffered during the pandemic-induced economic crisis.
Chipotle announced in May that the new starting salaries for crew members per hour would range from $ 11 to $ 18 per hour, and also announced their hiring plans. 20,000 new employees across the United States to “accommodate its high season and staff and the 200 restaurants it is expected to open this year.”
Southwest Airlines said in June it would raise the minimum wage to $ 15 an hour for about 7,000 employees as the company sought to recover from the major drop in air travel during the pandemic.
Some business analysts have warned that rising wages could lead to higher prices for the company’s products.
In June, Chipotle said it had raised menu prices by about 4 percent to offset rising wages, though company executives said at the time that they had no additional plans to increase them. consumer prices.