Macy’s is boosting its minimum wage to $15 per hour, and it plans on putting millions towards a debt-free education program for its employees.
By May of this year, more than 100,000 U.S. workers will be getting their wages increased to $15 an hour, the department store announced on Monday. The move comes as the company tries to hire and keep workers as the labor market changes, Fox Business reports.
As the holiday season approaches and the hirable population of people in the country gets smaller, more and more businesses are concerned that they won’t have enough staff to keep up.
On top of Macy’s wage increase, the store is promising to invest money into employee benefits by dropping $35 million on a new debt-free education program for workers over the next four years.
Other companies like Amazon, which increased its U.S. employee pay to $18 an hour, are also working to keep its workers. Walmart has also announced wage increases.
