CVS will raise its minimum wage for hourly workers from $11 to $15 by next summer, becoming the latest large US chain to pledge a $15 starting rate as companies compete for workers in a tight labor market.
The pharmacy giant, which has nearly 300,000 employees, said Wednesday that it will begin increasing wages for hourly workers this month and hit the $15 an hour mark across the company next July. CVS will also increase starting rates for positions such as pharmacy technicians and call center representatives above $15. Around 65% of CVS’s hourly employees already make more than $15 an hour, the company said.
