Target CEO Brian Cornell received a pay raise amid the pandemic last year, boosting his total compensation to 805 times the salary of a median Target employee, Axios reported.
Target paid Cornell $19.75 million in 2020, an increase of nearly $800,000 from the year before, regulatory filings showed, Axios reported. The average Target employee’s salary, meanwhile, was $24,535.
Costco will raise its company-wide minimum wage to $16 per hour, a one-dollar increase that raises its wages higher than its fellow big-box retailers, the company’s CEO said during a congressional hearing Thursday.
Costco plans to raise its minimum wage from $15 to $16 because it is committed to paying workers “very competitive retail wages,” CEO Craig Jelinek said during a Senate Budget Committee hearing Thursday. Jelinek stopped short of advocating in favor of a federal minimum wage overhaul, instead saying he was solely focused on Costco.
Target, CVS Health and Publix Super Markets on Thursday joined the growing list of national chains that will require customers to wear face masks regardless of where cities or states stand on the issue.
Target’s mandatory face mask policy will go into effect Aug. 1, and all CVS stores will begin requiring them on Monday. Publix Super Markets Inc., based in Lakeland, Florida, said that its rule will kick in on Tuesday at all 1,200 stores.
Both Target and Best Buy have announced plans to make Juneteenth a company-wide holiday, an idea that Sen. John Cornyn (R-TX) wants to institute on the federal level.
“One of the most defining days in our nation’s history was when President Lincoln issued the Emancipation Proclamation on January 1, 1863, finally freeing all slaves in Confederate territory. But slaves in Texas wouldn’t learn this life-altering news for two and a half years,” Cornyn said during a Senate floor speech Thursday.
Target Corporation announced Thursday that it will temporarily close 24 stores throughout the Metro area in the wake of mass looting and rioting in Minneapolis.
Wednesday night’s riots in response to the death of George Floyd left one Target store in south Minneapolis completely demolished.