LAKE CHARLES, LA (KPLC) - Target employees are about to see a huge raise in their minimum wage.
The retail giant announced in a press release that it is raising its minimum wage to $12 this spring and $15 by the end of 2020. That's a dollar increase from its current level despite that t shares of target dropped five-percent on Tuesday.
Officials with the company say seasonal job applications rose after the announcement of the upcoming pay hike.They add that they are seeing a "much stronger pool of talent."
The reasoning behind the raise is to "provide an elevated experience for guests". The company also wants to compete with its rival's pay wages such as Walmart who also increased their minimum wage to $11 per hour.
In addition to the pay raise, Target is also starting 2-day shipping, a Drive-Up service, a same day flat fee for deliveries, and tripling the size of its remodel program by updating 300 stores.
Read the corporate plans HERE.