Why Some Costco Employees Are Angry About The Pay Raise News
In 2021, Costco received good press because it raised its minimum wage twice. However, between the record profits Costco has made and the continued pressure of inflation, some workers are finding the company's latest round of raises insufficient.
In the Costco subreddit, one worker shared a note that explained how Costco intended to give its "topped out" workers a $0.75 raise. After including the fact that Costco had reduced their $2 pandemic hazard pay to a $1 pay raise in 2021, the note writer concluded "This $0.75 'raise' means you will be earning $0.25 less per hour than you did two years ago when hazard pay was fully in effect." Costco decided this was appropriate, the writer continued, even though the company's net income was 19.45% higher in 2021 than in 2022, exceeding $5 billion.
"A pay cut after all our hard work is not taking care of our employees," they said. "It is a slap in the face." They proposed workers instead get a 10% raise and an additional increase of $1 per hour each year to account for cost-of-living increases.
The message received support from workers on the subreddit. "Forgot to mention that CEO and the top brass got up to a 30% increase in the same time span," one wrote. And as another Redditor pointed out, a 30% pay increase for a CEO is much more than what hourly Costco workers are getting.
https://www.msn.com/en-us/money/personalfinance/why-some-costco-employees-are-angry-about-the-pay-raise-news/ar-AAWgBqs
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