Starbucks Corp. reported second-quarter sales that topped estimates and announced array of new employee benefits as it looks to deter a spreading union push.
The coffee giant is raising pay for its tenured workers and store managers. Employees with two to five years of service will receive at least a 5% increase or move to 5% above the market start rate, whichever is higher. Employees with five-plus years of service will receive at least a 7% increase or move to 10% above the market start rate, whichever is higher.
Also, on August 1, Starbucks will double its planned investments in store manager, assistant store manager and shift manager pay for leaders hired on or before May 2. The company noted that the changes are one-time investments in base pay in addition to its planned fiscal year 2023 raises this fall.Chain Store Age