A person enters a Walgreens store in San Francisco, California, USA, on Tuesday, April 13, 2021.
David Paul Morris | Bloomberg | Getty Images
Pharmacy chain Walgreens Boots Alliance announced Tuesday that it will increase its hourly wages per phase worker, with the goal of reaching $ 15 per hour in November 2022.
Initial payment increases will be made in October. His current starting salary is $ 10 an hour, but the company said about half of its 190,000 workers per hour earn at least $ 15 an hour.
The measure occurs when retailers compete to work in a narrow labor market. Earlier this month, competitor CVS Health raised the minimum wage and withdrew education requirements for workers. CVS plans to raise its hourly wage to $ 15 from $ 11 in July 2022, with gradual increases starting as early as this month.
Walgreens said it will cost $ 450 million over the next three years to increase its pay. About a third of those costs will be incurred in fiscal 2022. The pharmacy chain said it hopes to be able to offset the impact of the investment on the normal course of its business.
“Investing and rewarding our team members is not only right, but it’s very important to retain and attract a talented workforce and continue to serve our critical role in community health care,” Roz said. Brewer, CEO of Walgreens. release.
The pay rise is one of Brewer’s first initiatives since he was CEO. Brewer, the former chief operating officer of Starbucks, recently appointed several senior executives, including a new director of customers, the new director.
Shares of Walgreens rose more than 2% on Tuesday. Shares have risen nearly 25% since the beginning of the year, placing their market capitalization at about $ 43 billion.
The company has hired 25,000 full-time and part-time workers over the course of the pandemic.