Starbucks to Raise Wages Up to 15%
July 11 2016 - 11:08AM
Dow Jones News
By Joshua Jamerson
Starbucks Corp. will boost compensation by as much as 15% for
employees in many of its U.S. stores this year through higher base
pay and stock awards.
The Seattle-based coffee chain said that effective October 3,
employees in its company-operated stores will receive an increase
in base pay of 5% or more. The pay increase will range depending on
geographic region and market factors.
The company also said it would double the annual stock award for
employees who reach two years of continuous service with the
company.
The combination of the changes will result in overall
compensation increases between 5% and 15%, the company said.
Starbucks stock rose 0.2% to $56.64 in morning trading.
Write to Joshua Jamerson at joshua.jamerson@wsj.com
(END) Dow Jones Newswires
July 11, 2016 10:53 ET (14:53 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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