Starbucks is investing $250 million into increased pay and benefits for its workers, CNBC reported Wednesday. A Starbucks press release noted that this decision was motivated "by recent changes in the U.S. tax law" and will affect more than 150,000 workers.
In April, Starbucks employees will receive wage increases "based on regional cost of living" that total $120 million. The company is also doling out stock grants; baristas and other store staff will receive at least $500 grants while store managers will get $2,000 grants.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
The clown car cabinetOpinion Even 'Little Marco' towers above his fellow nominees
-
Ed Park's 6 favorite works about self reflection and human connectionFeature The Pulitzer Prize finalist recommends works by Jason Rekulak, Gillian Linden, and more
-
6 fantastic homes in Columbus, OhioFeature Featuring a 1915 redbrick Victorian in German Village and a modern farmhouse in Woodland Park
-
Boeing machinists approve contract, end strikeSpeed Read The company's largest union approved the new contract offer, ending a seven-week strike
-
US economy still strong in final preelection reportSpeed Read It grew at a solid 2.8% annual rate from July through September
-
Boeing machinists reject deal, continue strikeSpeed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
-
Ports reopen after dockworkers halt strikeSpeed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
