Archived $10.00 Minimum Wage?

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Matt88

Matt88

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Target just reported 4th quarter earnings on February 24th, they also released estimates for the rest of 2016, but nothing has been mentioned about raising the minimum wage to $10.00, which would effect the estimates for the year. So, we followed Wal-Mart last year when they went to minimum wage of $9.00, but I have a feeling that its not happening this year, because I think we would know by now. I just think they should address the issue soon, so people don't have to keep speculating, I mean we are all thinking about it, just no one will confront it. If you know anything or have an opinion about this subject, please feel free to share on this thread.
 
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Target only did the $9 thing because Walmart forced their hands. A big part of Target's business model is competing with Walmart, and trying to be "better" than Walmart. How often do you hear guests or other people you know saying they prefer to shop at Target because they can't stand Walmart? That's basically how Target makes its money -- by being Walmart plus. So if Walmart is paying their workers a little better than minimum wage, Target executives scramble to imitate that. Of course, they couldn't go for that extra dollar because that's an extra dollar that doesn't go to the shareholders, so Spot team members have to settle for $9. I doubt they'll be going higher any time soon.

This doesn't apply of course if your state has a minimum wage higher than $9. Here in CA it's $10 so our Spot workers start out at $10.
 
I don't think we'll see a company-wide increase in the minimum wage this year. We might see it on a store-by-store basis, as is the case at my store where our base pay got bumped to $10.50 about 6-8 months ago.
 
My store leadership has been talking about an increase nothing confirmed yet tho
 
I'm going to have to agree and say its definitely on a store to store basis and the area the store is based in. Depending on the minimum wage in the area and how badly they need workers, wages won't fluctuate much.
 
Tired Grunt said:
I'm going to have to agree and say its definitely on a store to store basis and the area the store is based in. Depending on the minimum wage in the area and how badly they need workers, wages won't fluctuate much.
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My store moved the starting wage to $10 last Oct
 
If they wanna continue claiming "competitive pay" they have no choice but to go up to ten. Last year when wm announced that they'd have everyone at a ten minimum by the beginning of this year, a lot of other retailers followed suit.
 
I think there is still plenty of time for them to raise it. Last year Brian Cornell denied that there were plans to increase the starting wage company-wide, stating that it was a market-by-market decision; three weeks later they publicized that we were increasing to $9.00.

I don't know that increasing to $10.00 would have as much of an effect on earnings as people think. Last year Mulligan even said a wage increase "would not have a material impact on [Target's] financial results."

Yes, if you're in a market where the minimum is currently under $10.00/hr, those earnings will be affected, but there are several stores that already have a base pay higher than that. Plus, if you're above PG3, there's a chance you wouldn't see an increase at all, even if you're in a market that is currently below that baseline.
 
I thought I read on here recently from an STL that it is going up and you will also get a merit raise (same way they did it last year).

Walmart made a big deal out of it and specifically mentioned the estimated cost because they needed the PR. I don't think there's any rule that a company has to come out and specifically say that they will be raising pay and it will cost X amount. They can just add to the estimated payroll expenses for the year.
 
Starting wage will raise. It has to, or else Target will have an extremely hard time maintaining or gaining the already underpaid workforce it relies on. Target CAN'T underpay Walmart. If they do, they lose. Straight up. They're lagging probably because they're still trying to figure out where to cut and how to make up for the extra labor costs.
 
Stores in my area of NYC went up and we were told that it was to stay in competition with Walmart (which isn't even in NYC btw but everyone goes to Walmart in NJ lol.) We are at 10.50 now.
 
It is going in to effect around April 1st. This will be prorated for your merit raise as well. No one but team leaders and above really know about it though.
 
001275 said:
It is going in to effect around April 1st. This will be prorated for your merit raise as well. No one but team leaders and above really know about it though.
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So, you are confirming that Target minimum wage will be going from the current $9.00 to $10.00, to obviously match Wal-Mart's minimum wage around April 1st ?
 
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