CVS announced on Wednesday that it was raising its employees’ minimum wage to $15 an hour effective in July 2022.
The wage increase will also include incremental increases to hourly rates starting this month, CVS said.
CVS is the latest in a string of retailers that have raised their minimum wage to at least $15 an hour, including Amazon, Costco, and Target, to name a few. Walmart boosted workers’ wages to $13 an hour in February.
CVS is taking things a step further and even eliminating these requirements.
More Business and Markets Headlines
Tim Melvin’s 2021 watchlist: which stocks will make you a fortune?
This is the company Amazon is diving in head first on, investing millions
Major automaker offering salaried buyouts, hopes to cut 1,000 U.S. positions