Jun 17, 2020 - Economy

Target will boost its minimum wage to $15 in July

Jacob Knutson

A Target in California. — Photo: Smith Collection/Gado/Getty Images

Target announced Wednesday that it would hike its hourly minimum wage from $13 to $15 beginning July 5, CNBC reports.

Why it matters: The retailer said the move will give a raise to around 275,000 of its more than 350,000 employees.

Some workers in more expensive cities like New York and San Francisco have already been earning hourly wages of at least $15.
Back in 2017, the company pledged to raise its minimum wage to $15 by the end of 2020.

The big picture: Target said it would give part-time and full-time employees a $200 bonus at the end of July to recognize their work during the coronavirus pandemic.

It will also continue pandemic-related benefits, including free backup care for employees' children through August, free mental health counseling and 30-day paid leave for at-risk employees.
It also added a new benefit, allowing all employees access to virtual doctor visits through the end of the year, even if Target does not provide their health insurance.

Go deeper: Target's digital sales jump 141% as coronavirus keeps shoppers home

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Target will boost its minimum wage to $15 in July

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