Costco CEO Craig Jelinek supports raising the minimum wage.
Costco announced record profits today, averaging $10,000 in profit per employee compared to $7,400 at Walmart.
The secret to Costco’s success is paying employees well, providing benefits, and giving them an opportunity to unionize.
So large corporations’ excuses that treating & paying workers well would damage profits are all a crock of shit.
Sources, sources. Sources, please.
Let’s see… Thanks, Google!
Costco CEO Craig Jelinek openly supports raising the minimum wage to $11.50 an hour, “At Costco, we know that paying employees good wages makes good sense for business. We pay a starting hourly wage of $11.50 in all states where we do business, and we are still able to keep our overhead costs low. An important reason for the success of Costco’s business model is the attraction and retention of great employees. Instead of minimizing wages, we know it’s a lot more profitable in the long term to minimize employee turnover and maximize employee productivity, commitment and loyalty. We support efforts to increase the federal minimum wage.”
Now this, coincides exactly with my thoughts on minimum wage! Makes me think I should have requested $10 on a job app I filled out earlier this evening. (But it’s only part-time, and my first job, so I suppose I should count the experience as an important part of my pay.)