The CEO of COSTCO stores, Craig Jelinek, announced in a hearing in the federal Senate, that from the week that the minimum wage of its employees will be $ 16 an hour.
According to an Insider report, Jelinek indicated that this increase in hourly pay for its employees is “good business” as it reduces the output of employees who have been with them for more than nine years. He also said that Costco’s success is because they have the best employees in their stores.
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Recognizing that they are not a perfect company, Jelinek commented that “we try to take care of our employees because they are a significant part of our success.”
In 2018, the company raised its minimum wage to $ 15, and according to the CEO, more than half of in-store employees are paid $ 25 an hour, in addition to paid vacation, additional bonuses and benefits of health.