Companies hurry to give paid day off for Juneteenth holiday
More than 800 U.S. companies offered employees a paid day off Friday for the newly established Juneteenth federal holiday, Reuters reports.
Why it matters: President Biden signed legislation late Thursday making Juneteenth a federal holiday, leaving many U.S. companies rushing to create policies for workers to take the day off.
- Juneteenth, celebrated on June 19, memorializes when the last enslaved people in Texas learned about their freedom under the Emancipation Proclamation.
The big picture: Companies such as JPMorgan Chase and Bank of America have allowed employees a floating day off. Nike will close all U.S. operations, and Yelp will offer a paid holiday, per Reuters.
- Target will have an annual company holiday moving forward. Starbucks will remain open and hourly employees will be paid 1.5 times their regular rate and salaried staff will receive a holiday.