[US] Best Buy’s $15 minimum wage takes effect


 
03 AUG 2020

Nationwide electronics chain Best Buy’s new $15 minimum wage took effect on August 2 for tens of thousands of US employees. The new rate represents a 4 per cent pay increase for hourly workers and replaces the incremental hourly appreciation pay which has been a short-term incentive compensation for employees working during the COVID-19 crisis since March 22. (Link via original reporting)

The pay increase follows exponential growth in customer demand during the second quarter; Best Buy experienced a 255 per cent online sales surge. Employees whose pay rate still does not reach the $15 per hour wage after the 4 per cent increase will have it automatically increased to the new starting wage. Target adopted the $15 wage earlier this month and Amazon has been paying its workers $15 per hour since November 2018. Fox Business reports Best Buy’s decision with quotes from the chain’s CEO. (Links via original reporting)

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