Home Depot says it will bring the average starting salary for its hourly workers to $15 an hour. The workers will see the increase this month in their paychecks.
In an email to employees that was shared with CNBC, Home Depot CEO Ted Decker said the investment “positions us more favorably in every market where we operate.” He said higher wages will improve the customer experience as the company attracts more high-quality workers and keep experienced staff.Home Depot has added more training opportunities too, Decker said, including the promotion of more than 65,000 employees in 2022 alone.
The pay raises could also help Home Depot head off a fledgling campaign to unionize its stores, which it opposes. Workers at a Home Depot in Philadelphia filed to hold a union election last September, saying workers weren’t benefiting from Home Depot’s strong sales and stores were understaffed. Workers at the store voted to reject the union in November.
Home Depot employs 437,000 people in the U.S. and 34,000 in Canada. The vast majority are hourly employees, the company said. The company operates 2,000 stores in the U.S. and 182 stores in Canada.Melissa Repko is a retail and consumer reporters for CNBC.com.
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