Walgreens raising starting wage for employees to $15 an hour
The company will begin phasing in its new starting wage in October
CVS, Walgreens begin vaccine rollout at thousands of hard-hit nursing homes
Bryan Llenas reports from Riverdale, New York.
Walgreens is increasing its starting pay for all hourly employees in the U.S., the company announced Tuesday.
The company’s new starting wage will be $15 an hour, according to the announcement.
In the announcement, Walgreens said it is increasing its starting pay as a way to recognize "the critical role of team members in serving customers, patients and communities."
CVS, WALGREENS AWAIT GUIDANCE ON COVID-19 BOOSTER SHOTS
Walgreens will begin phasing in the $15-an-hour starting wage in October. The policy is expected to be fully implemented across the country by Nov. 1, 2022.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
According to the announcement, the starting wage increase is expected to cost a total of $450 million over the next three years. One-third of that amount is expected to be invested in Fiscal Year 2022, Walgreens said.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WBA | WALGREENS BOOTS ALLIANCE INC. | 17.59 | -0.04 | -0.23% |
In the announcement, Walgreens said it expects to "partially absorb" some of that cost "through the normal course of business."
CLICK HERE TO READ MORE ON FOX BUSINESS
"I am extremely proud and grateful of the work our team members are doing across our 9,000 Walgreens locations serving our customers, patients and communities each and every day," Roz Brewer, Walgreens Boots Alliance CEO said in a statement.
Walgreens announced on Tuesday that it will be raising the starting wage of its hourly workers to $15 an hour by Nov. 1, 2022. (iStock / iStock)
"Investing in and rewarding our team members is not only the right thing to do, it’s highly important to retaining and attracting a talented workforce, and to continuing to serve our critical role in community health care," Brewer added.