'We see this not only as an investment in our team but an investment in an elevated experience for our guests and the communities we serve,' Brian Cornell, CEO of Target, told reporters on a call Friday. With Target's outsized influence in the retailing world, its hike could force rivals to match the pay in order to compete. had raised its entry-level hourly pay for workers to $9 in 2015 and then to $10 in 2016. As part of its $2.7 billion investment in workers, Walmart Stores Inc. But Target's hike to $15 per hour far exceeds not only the federal minimum of $7.25 per hour but the hourly base pay at Walmart, the nation's largest private employer, and plenty of its other retail peers whose minimum hourly pay now hovers around $10. Target quietly raised entry-level hourly wages to $10 last year from $9 from the previous year, following initiatives by Walmart and others to hike wages in a fiercely competitive marketplace.

Chrysler salaried workers also were to get bonuses, despite a $12.5 billion government bailout.The initiative, announced Monday, is part of the discounter's overall strategy to reinvent its business announced earlier this year that includes remodeling stores, expanding its online services and opening up smaller urban locations.įacebook CEO Mark Zuckerberg Stops In Philly For 'Best Cheesesteak In The Land' It expects to post a net profit this year after revamping its aging model lineup. Many of the executives still will take home more than $1 million.Ĭhrysler's roughly 22,000 blue-collar workers were to get $750 in bonuses even though the company lost $652 million last year. Cash salaries have been capped at $500,000, but further compensation can be made in stock. GM has said its top 100 earners are still covered under government pay restrictions. This year, the company plans to add vehicle quality to the formula, measured by warranty claims and outside rankings from Consumer Reports magazine and J.D. The GM documents say the white-collar bonuses are based on operating cash flow, earnings before interest and taxes, and global market share. last year, far below the peak of 17 million in the middle of the last decade. Buyers bought only 11.6 million cars and trucks in the U.S. Union concessions cut labor costs and helped the company make money even at historically low sales volumes. The company emerged from bankruptcy cleansed of most of its debt and burdensome contracts. The payments follow GM's surprising return to profitability last year. The master contract with all three companies expires in September. The size of the white-collar bonuses could become an issue later this year when the Detroit Three begin contract talks with the United Auto Workers union. That means GM would pay out roughly $224 million.īonuses for white-collar workers rise with the level of responsibility and are based on the performance of the worker and the company, the person said.

A bonus of 8 percent, the midpoint of the range, would give them roughly $8,000. Most GM salaried workers make more than $100,000.

The person briefed on the payments did not know the total cost of the salaried bonuses, but it's likely to top $200 million.

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