Home Depot said Tuesday it’s investing $1 billion in wage increases for its U.S. and Canadian hourly workers.
The Atlanta-based home improvement chain said every hourly employee will get a raise starting this month. Starting pay will be at least $15 per hour in all markets.
Home Depot is one of many big retailers who have raised pay to attract workers in a strong U.S. job market, where unemployment is at its lowest level since 1969. Walmart announced in January that it would be raising its hourly wage to an average of $17.50, while Target invested $300 million in hourly wage increases last year.
The pay raises could also help Home Depot head off a fledgling campaign to unionize its stores, which it opposes. Workers at a Home Depot in Philadelphia filed to hold a union election last September, saying workers weren’t benefiting from Home Depot’s strong sales and stores were understaffed. Workers at the store voted to reject the union in November.
Home Depot employs 437,000 people in the U.S. and 34,000 in Canada. The vast majority are hourly employees, the company said. The company operates 2,000 stores in the U.S. and 182 stores in Canada.
“This investment will help us attract and retain the best talent into our pipeline,” Home Depot’s Chairman, President and CEO Ted Decker wrote in an email to employees. Decker noted that 90% of the chain’s store leadership started as hourly workers.
Steven Overly, Host of Politico Tech, talks to Dave Briggs about the key takeaways from Joe Rogan's interview with Mark Zuckerberg, all under 20 minutes. Watch!
Abrar Al-Heeti, Tech Reporter at CNET, explains what will happen if and when the TikTok app is banned in the United States. Plus, who may buy it? Watch!
Chris Lafakis, Director at Moody's Analytics, discusses how home insurance may change as a result of the devastation in California brought on by the LA fires.
Brian Rosen, Founder and CEO of InvestBev, discusses what the Surgeon General’s new Advisory on Alcohol and Cancer Risk means for the adult beverage business.
Damage from the Los Angeles inferno is setting records—and it's not over. Plus, rate-cut drama, the battle over Greenland, and Zuckerberg bends the knee.
Watch Duty CEO, John Mills, talks to Cheddar about how the app works, how it helps people in real time and how people can donate to help those affected.
JP Richardson, CEO at Exodus, discusses bringing Exodus public, his thoughts on the future of crypto markets, and tips to take the first steps into the space.
Jonathan Alter, journalist and author, discusses Trump's threats to take back the Panama Canal, unraveling foreign policy work done by Jimmy Carter in 1978.
