CVS will increase its minimum wage to $ 15 an hour

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The pharmacy giant, which has nearly 300,000 employees, said on Wednesday it would start raising wages for hourly workers this month and hit the $ 15 an hour company-wide mark next July. . CVS will also increase starting rates for positions such as pharmacy technicians and call center representatives over $ 15. About 65% of hourly CVS employees already earn more than $ 15 an hour, the company said.

Many retailers, restaurants and other service sector employers are struggling to hire and have raised wages, offered signing bonuses, and extended their benefits to attracted workers.

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“Attracting and retaining the best talent in our businesses is essential as we continue to redefine what it means to meet people’s health needs,” CVS CEO Karen Lynch said Wednesday.

The company also said it recently eliminated its high school diploma or GED requirement for most entry-level jobs and plans to eliminate the GPA requirement for college hiring in order to expand its labor pool.

CVS (CVS) joins a growing list of companies such as Amazon (AMZN), Target (TGT) and Best buy (BBY) move to a starting wage of $ 15 an hour.
Other companies with a minimum wage of less than $ 15 an hour, such as Walmart (WMT), Mcdonalds (MCD) and Chipotle (GCM), have also increased wages in recent months.
The federal minimum wage is $ 7.25 an hour. President Joe Biden supports increasing the federal minimum to $ 15, but a proposal to raise it to that level was recently blocked in Congress.
In April, Biden signed an executive order raising the minimum wage for federal contract workers to $ 15 in early 2022 from the current level of $ 10.95.

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