CVS Will Raise Minimum Wage To $15 An Hour
WOONSOCKET, R.I (CBS) -- CVS announced Wednesday it is raising minimum wage to $15 an hour for all employees, starting in July 2022.
The Woonsocket, Rhode Island-based pharmacy chain with nearly 10,000 locations in the United States said about 65% of its workers already make more than $15 an hour. The Massachusetts minimum wage is set to reach $15 an hour in 2023.
"Attracting and retaining top talent across our businesses is critical as we continue to redefine what it means to meet people's health needs," said CVS Health President and CEO Karen S. Lynch in a statement. "These wage increases will have a meaningful impact on our colleagues and their families while helping the communities we serve prosper. Today's announcement is the latest in a series of investments in our people, including bonuses and benefit enhancements throughout the pandemic.
Target raised its minimum wage to $15 an hour at the end of 2020.
CVS increased its minimum wage to $11 an hour in 2018 and it will rise to $13 an hour in September.
CVS also said it has recently removed its high school diploma or GED requirement and later this year will get rid of a GPA requirement for university recruitment.
