Target permanently raises starting pay to $15 an hour

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PEMBROKE PINES, FLORIDA – AUGUST 21: A Target store sign is seen on August 21, 2019 in Pembroke Pines, Florida. Target Corps. stock price soared after the retailer topped earnings expectations as the company announced that second-quarter profits jumped 17% to $938 million, while revenues rose to $18.4 billion, up 3.6% increase from the year-ago quarter. (Photo by Joe Raedle/Getty Images)

NEW YORK (AP) — Target Corp. says it’s permanently increasing starting hourly wages for its workers to $15 beginning July 5, several months ahead of schedule.

The Minneapolis-based company had set a goal in 2017 to gradually increase hourly wages from $10 to $15 by the end of 2020.

The last time Target permanently increased pay was in June 2019 when it raised hourly pay to $13.

But starting in mid-March, Target gave a temporary $2 wage bump to part-time and full-time workers as a reward for working under the crush of orders during the pandemic.

The pay hike affects roughly 275,000 Target workers, the company said. Target is also giving out $200 bonuses to workers as other retailers like Kroger and Amazon have stopped paying bonuses. 

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