(Reuters) - Retailer Target Corp (NYSE:TGT) said on Monday it would spend $300 million more in the next year improving starting salaries and healthcare for its vast army of employees as it looks to be an attractive workplace in a tight U.S. labor market.
Retailers and restaurants have been struggling with worker shortages over the last few months, made worse by the Omicron coronavirus variant, and have been offering pay raises and other incentives to retain staff and keep businesses running smoothly.
Target, which had more than 350,000 workers as of September, set a new starting wage range of $15 to $24 per hour for employees at its stores and warehouses. The previous starting wage at the company was $15 per hour.