AssetID: 53187359
Headline: UNCAPTIONED: Starbucks to Raise Hourly Wages for Baristas
Caption: Starbucks to Raise Hourly Wages for Baristas. Beginning January 1, hourly Starbucks employees will receive a minimum of an additional 3% in pay, CBS News reports. The announcement comes amid Starbucks' plan to double 2020 hourly wages by 2025. It also comes after the coffee chain reported annual revenue of nearly $36 billion. Starbucks has invested over $1 billion on its employees and stores over the past year, which has reportedly helped to keep workers. "Coupled with higher wages and the expansion of hours, these investments have not only resulted in lower turnover but have also increased hourly total cash compensation by nearly 50% since fiscal year 2020.", Starbucks, via statement. Those who've been with the company longest will receive larger raises, Starbucks said. Employees who've been with the company up to five years could get "at least a 4% pay raise," while those who've been there longer could see another 5%, CBS News reports. Pay increases will apply to both union and non-union employees. However, raises for union workers will be dependent on "historical and recent years raises.". Baristas typically earn $15 to $24 an hour plus benefits, according to Starbucks. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Starbucks,raise,hourly,wages,baristas,employees,minimum wage,percentage,rise,bonus,earnings,benefits,coffee,chain,United States,America
PersonInImage: