2019 Mar 12, 11:29am
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On Thursday, Costco announced it would raise the hourly wage for 130,000 of its American employees. CEO Richard Galanti, while discussing the company’s fiscal third-quarter earnings, said that starting wages for employees would be raised $1 an hour to $14.50 an hour while other hourly wages would be hiked 25 to 50 cents an hour.Galanti added that the new wage increases would be probably be added to the company’s regular wage hikes. He acknowledged that the tax cuts would garner Costco an added $300 million each year.The impetus for the wage hike was the windfall Costco received from the GOP tax cut; the company made $32.36 billion in sales and membership revenue in the twelve weeks ending May 13. That represented a 12.1% increase over the same period last year. Costco has enjoyed four straight quarters of double-digit sales growth.https://www.dailywire.com/news/31334...r-hank-berrien
Whole Foods cuts workers' hours after Amazon introduces $15 minimum wage“My hours went from 30 to 20 a week,” said one Whole Foods employee in Illinois.Workers interviewed for this story were reluctant to speak on the record for fear of retaliation.The Illinois-based worker explained that once the $15 minimum wage was enacted, part-time employee hours at their store were cut from an average of 30 to 21 hours a week, and full-time employees saw average hours reduced from 37.5 hours to 34.5 hours. https://www.theguardian.com/us-news/...-hours-changes
Democrats are weeping. Less people on welfare and Costco making so much money people getting raises, instead of taxing it away from rich to redistribute.
FortWayneIndiana saysDemocrats are weeping. Less people on welfare and Costco making so much money people getting raises, instead of taxing it away from rich to redistribute. I don't understand how lefties can be so against settled science. There is literally no real world examples of demand side theory ever working in real life.