Its only "topped out" employees going to over $30; you have to work 6 full time years before you hit that. Since they only hire part time, it averages to 9 years of work. They also do not disclose how many are "topped out" and due to turnover, its definitely not most of their hourlies anymore.
Costco starting pay will now be $20 an hour. Yes employees start out as part time with a minimum 24 hrs a week but if the employee proves themselves they easily can move into a full-time position
A studio apt here goes for $1500. When your $20 per hour take home is $2400 a month, its not great. 6 to 7 years is too long to wait for a "livable wage". The starting wage used to be "livable" and top out used to be a "thriveful wage". Top outs used to buy houses, now they can barely afford rent
Remember their union goes on strike starting Feb 1st. Rumor is they're asking to make up the loss of wages due to past few years raises that did not meet inflation, plus pay for when the stores temp close due to hurricane/fire/etc. Rn they either don't get paid or have to use sick/vacation time.
This is not a news story. Costco has raises for top rate every single year. They pushed this story to drown out articles about tomorrow's strike.
It's also definitely not "most" employees bumping up that high. They'll have the potential to earn that much.
Just saying. $5 per membership? Raises? Their profits haven’t indicated they need an increase. I like Costco but Sam’s club not looking too bad right now.
WOW would you look at that a living wage!!!!Walmart and Amazon need to take note. Instead theyll pass the buck to the tax payers who have been funding their employees groceries and healthcare for years. Thats who people should be angrry at the national debt NOT people trying to survive
Their employees are threatening a huge strike, THATS what is behind this raise. And they're threatening to strike BECAUSE they're not treated as well as the ought to be!
I think the terminology is intentionally misleading by the original corporate memo for PR purposes. The headlines all say "most" workers (which I guess could be 51%), but the articles state that's only for the highest tier workers. The lowest tier make around $20 & others the range in between.
Costco redoes/updates its handbook every 3 years. This is the year they update their handbook and give raises every 3 years for the cost of living. The strike has nothing to do with it, they are still in negotiations with the union and they are more than likely still going to strike tomorrow.
Good! That's an honest to goodness liveable wage. Not the 15 we've been fighting for for so long it's actually closer to 25 now just to stay at the same purchasing power we had when we began that fight.
I remember when $COST was sub $300 and @cnbc.com Jim Cramer said that it was so well run that the company & stock had nothing but upside. Today it closed at $979! If I only had a few thousand shekels back then to buy 25-30 shares. Meh!
Full disclosure - my wife chose Costco and it is up almost 6x since. I said why Costco? Her answer - “The store is always packed yet the shoppers are pleasant”.
I used to live 10 minutes drive away from 2 different Costcos. One we call the Indian Costco, the other Italian. Costco has always had a diverse customer base and their products reflect the areas they serve. Why shouldn't their workers also reflect diversity. THANK YOU COSTCO!!
Interesting and I wonder why? People are heading for healthier food choices & are more selective especially with free range & organic produce like meat & sprayed pesticides. The food industry in Europe is undergoing a revolution and demanding better quality of buying fresh from farms.
My apologies for the delay. It depends on what country you’re referring to as Costco is global and has different rules for each location so it might be easy to say but harder to prove.
Nope. They're actually cutting hours. Union stores are asking for adequate staffing to meet past years levels, but despite record sales they are choosing to run skeleton crews which have been causing overwork and injuries in buildings.
I gave up my Walmart/Sam’s Club membership because of DEI & will be keeping my Costco membership.
I also gave up my @amazonmusicbr.bsky.social 🍎 membership because of axing DEI & got an @musicapple.bsky.social account instead
Waiting for the party of "small government" to step in and implement a maximum wage because how dare working class folks make a reasonable living and aren't on the brink of poverty
There are hundreds of far worse corporations to worry about than Costco. If your only complaint about how workers are treated and compensated has to do with posting union flyers then move your efforts to other retailers that don't give a s*** about their workers at all. Such as #Walmart #Lowes et al
I work approximately 200 feet from one. Definitely handy being that close and I fill up my car there almost exclusively. They seem like a good company.
They're boosting pay because Teamsters are threatening a huge strike, not out of the goodness of their heart. I'm glad they still support DEI initiatives, but it means nothing if they don't strike a deal. Unions first- business later. Don't use your membership till there's a deal.
Corporate leaders make a lot of money. People have to be able to live a reasonable lifestyle. Granted to many people live beyond their means. But a reasonable wage is not much to ask. When corporations like Exon say they struggled and only made 20 billion this quarter, it show's how out of touch .
Mostly the crowds and extremely aggressive parking lots. I also tend to buy more than I need when I shop there. My store peeps near my house were nice but, when I had an issue and had to call, it was an extremely frustrating experience.
It's like when Dick's said they would stop selling guns and the street etc went crazy thinking it was the kiss of death yet they went on to totally rock! Great management knows when the perceived risk is actually the best strategic move with great upside and gives them an edge.
Already a Costco member but definitely gonna get more everyday stuff from them. Very VERY refreshing to see a major corporation stick to their values when sooo many are bending the knee.
Every 6th vote for KAMALA went to Trump in the swing states. Musk and his tech cronies found the algorithm for the machines and hacked them. They even bragged about it.
When you pay your employees well, provide a safe working environment, and operate in a morally and ethical manner unions are not needed. Unfortunately that is less and less the case.
Can’t be worse reality than working Amazon in Quebec. They voted pro-union & Amazon corporate shuttered SEVEN warehouses. Amazon has one of the worst OSHA violations history.
Honestly Costco is doing good things. Haven’t been a member in a long time but I’m considering rejoining, since they aren’t just rolling over to this stupid anti-diversity stuff. And even with diversity, they’re able to raise pay! That’s awesome.
This is not true, it has nothing to do with the strike. Costco redoes their handbook and raise structure every 3 years, and this is that time. Also, the strike would not be huge at all since less than 10% of Costco stores have union representation.
Someone else shared this context with me, too. Thanks for pointing this out! I don't think union pressure is existing in a bubble, but concede that the two aren't directly connected.
No problem, glad you were able to understand with the added context. I always listen to the workers, and that usually puts me on the side of unions, but I have seen a few cases recently where unions were just crying wolf and it really takes away from their appeal.
I’m hearing that, but I think that’s also good if the company engages and does something positive instead of like what for example Amazon does (fires the people illegally)!
Sure, but if the company is only engaging in good because their union is forcing their hand, we should be praising and supporting that union just as much, probably more.
Please wait until after the huge strike their union is planning to apply (that's what's behind this raise, they wouldn't do it if the union wasn't forcing change. So.. Yay unions...)
This is great and I hope it translates into increased revenue for them. Half the country is a formidable force, we need to flex that muscle, aggressively promote companies that do the right thing to show them it matters. The opposite of boycotts and a positive action amid this storm of negativity.
Based. Put out a memo explaining what DEI actually is so people stop thinking it means putting unqualified people into job spots because of their color/sex (it won't work, we are dealing with willful ignorance)
I worked aT Walmart in 2005. Nearly everyone i worked with qualified for state medicaid and received food stamps. Last year Doug McThieving made 2 MILLION additional dollars while stating he was "raising for prices because he had to". They are the real welfare queens we are paying for
I love Costco. I live alone and rarely can use the quantities yet I will continue to be a subscriber because they are a corporation that cares about their employees.
Comments
It's also definitely not "most" employees bumping up that high. They'll have the potential to earn that much.
Meanwhile the starting salary for an air traffic controller is $61K a year.
(Yeah it can almost double after 10 years but is it shocking they can't find people?)
Congratulations!
On both your marriage and the $COST stock!
Just one example of the declining value of the USD.
I also gave up my @amazonmusicbr.bsky.social 🍎 membership because of axing DEI & got an @musicapple.bsky.social account instead
Hooray for Costco mail order. I can still make my anti-inflammatory Hemp Heart muesli for a fraction of what I'd pay locally.
Cmon #TheFreshMarket; it's hemp seeds, not caviar.
https://teamster.org/2024/12/costco-refuses-to-accept-98-of-teamsters-proposals/
Plus Americans are simple creatures and just see number go up = good and Costco gets to ride the easiest PR since their shitty hot dog.
Please give context to your posts.
Still pretty cool