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Minneapolis-based retailer Target Corp. will raise its minimum wage to $9 per hour next month, according to published reports.
The move by Target follows recent pay hikes announced by other large retailers, as well as pressure by interest groups, among them the women’s advocacy group UltraViolet, to boost hourly wages. The move also comes in the wake of Target’s announcement last week that it plans to lay off 1,700 workers and close out another 1,400 open positions as part of a $2 billion cost-savings plan.
“We’re thrilled about reports that Target has caved to pressure and decided to raise its minimum wage to $9 an hour,” UltraViolet Co-Founder Nita Chaudhary said in a statement. “This is a huge victory for hundreds of thousands of women living at near poverty levels nationwide, but it is far from a living wage. With two-thirds of minimum wage earners being women, we urge Target to act immediately to meet or beat the $10-per-hour minimum being offered by many of its competitors today.”
Wal-Mart last month announced it would hike its minimum wage to $9 per hour in April and $10 per hour for current employees in 2016. Among other retailers, T.J. Maxx and Marshalls owner TJX plans to boost its minimum wage to $9 per hour in June.
The federal minimum wage is currently $7.25 per hour, which Target reportedly already exceeds; some states hold pay floors higher than the federal level.