Costco CEO supports a minimum wage hike
andyt @ Fri Jan 24, 2014 6:32 pm
What a bastard. He's just trying to make others pay what he does. As we know from all the xspurts on this forum, raising the minimum wage will just cause inflation, leaving the workers who received the raise worse off than they were. Also it will cause massive job losses, causing the government to subsidize these workers - oh, wait, they're already doing that. What a disaster, just as BC collapsed when it raised the min wage from $8 to $10.25. Inflation here is out of control, I tell you, and McDonald's et al all had to shut down because they couldn't afford to hire people at such a rich wage.
herbie @ Fri Jan 24, 2014 10:15 pm
Almost as offensive as Henry Ford when he figured out if he paid workers enough they'd all want to buy the cars he sold, eh?
stratos @ Fri Jan 24, 2014 11:02 pm
I don't claim to be an expert but these people are considered to be.
http://www.forbes.com/sites/realspin/20 ... troy-jobs/
PublicAnimalNo9 @ Fri Jan 24, 2014 11:18 pm
Yeah, cuz COSTCO is so generous with what looks like an average hourly wage of around $12.00/hr.
herbie @ Sat Jan 25, 2014 12:44 am
The old lady heard that an outfit might be interested in hiring her away fromher job to come work for them. So she checked it out. They offered $12 to start and no benefits at all. "But you get raises all the time".
That's a %5 cut and loss of medical/dental/extended coverage in return for Mon-Fri no oddball shifts.
WHen she asked my opinion I told her I would've told the interviewer "Sounds like a good job. For someone who's like SIXTEEN."
So she goes into her regular job and finds out that because she was off on medical/compo for an injury... she doesn't get enough hours to qualify for benefits anymore. Pay your medications and physio out of your own pocket. This is after six years of 40 hour shifts - still isn't "full time" working at a CASTRATED 2 tier UNION job.
Fucking working people -just how much shit are you going to eat?
Centre @ Sat Jan 25, 2014 7:37 am
PublicAnimalNo9 PublicAnimalNo9:
Yeah, cuz COSTCO is so generous with what looks like an average hourly wage of around $12.00/hr.
Wrong.
I personally know someone who has worked at COSTCO (in Canada) for likely close to 20 years now and they are around $25.00 an hour.
Costco is known for paying its workers wages that are generally above average for the retail industry. An average Costco worker made about $45,000 in 2011, according to Fortune. That’s compared to an average of about $17,486 per year for a worker at comparable Walmart-owned Sam’s Club.
$1:
Costco reported a profit of $537 million last quarter, up from $394 million during the same period last year, according to the Wall Street Journal. The healthy earnings report comes just six days after [CEO Craig] Jelinik urged lawmakers to raise the minimum wage to $10.10 an hour. [...]
Costco is known for paying its workers wages that are generally above average for the retail industry. An average Costco worker made about $45,000 in 2011, according to Fortune. That’s compared to an average of about $17,486 per year for a worker at comparable Walmart-owned Sam’s Club.
Costco is known for paying its workers wages that are generally above average for the retail industry. An average Costco worker made about $45,000 in 2011, according to Fortune. That’s compared to an average of about $17,486 per year for a worker at comparable Walmart-owned Sam’s Club.
http://www.dailykos.com/story/2013/03/1 ... its-are-up
jj2424 @ Sat Jan 25, 2014 9:39 am
Costco and Walmart are two different animals. How many Costco locations are there compared to Walmart?
Costco is a pain in the ass to shop at and employs a fraction of what Walmart does.
Jackup the Walmart wage and close 90 % of the locations...yeah that's good for the economy.
Yogi @ Sat Jan 25, 2014 9:49 am
No one is forced to work anywhere!
PublicAnimalNo9 @ Sat Jan 25, 2014 10:44 am
Centre Centre:
PublicAnimalNo9 PublicAnimalNo9:
Yeah, cuz COSTCO is so generous with what looks like an average hourly wage of around $12.00/hr.
Wrong.
I personally know someone who has worked at COSTCO (in Canada) for likely close to 20 years now and they are around $25.00 an hour.
Costco is known for paying its workers wages that are generally above average for the retail industry. An average Costco worker made about $45,000 in 2011, according to Fortune. That’s compared to an average of about $17,486 per year for a worker at comparable Walmart-owned Sam’s Club.
$1:
Costco reported a profit of $537 million last quarter, up from $394 million during the same period last year, according to the Wall Street Journal. The healthy earnings report comes just six days after [CEO Craig] Jelinik urged lawmakers to raise the minimum wage to $10.10 an hour. [...]
Costco is known for paying its workers wages that are generally above average for the retail industry. An average Costco worker made about $45,000 in 2011, according to Fortune. That’s compared to an average of about $17,486 per year for a worker at comparable Walmart-owned Sam’s Club.
Costco is known for paying its workers wages that are generally above average for the retail industry. An average Costco worker made about $45,000 in 2011, according to Fortune. That’s compared to an average of about $17,486 per year for a worker at comparable Walmart-owned Sam’s Club.
I'm not wrong.
Cashier-Hourly $14.21
Merchandiser-hourly $11.75
Night Merchandiser-hourly $11.88
Front end assistant-hourly $11.69
Stocker-hourly $12.17
Major sales associate-hourly $12.17
Pharmacy Tech-hourly $18.75
Produce stocker-hourly $19.23
Stock clerk-hourly $15.15
Cashier assistant-hourly $11.63
Supervisor-hourly $20.74
Dept.Manager-salary $68,880
Electronics sales associate-hourly $12.20
Front end lead-hourly $22.68
http://www.glassdoor.com/Salary/Costco- ... 23_IN3.htm
ShepherdsDog @ Sat Jan 25, 2014 10:52 am
holy....I made better pay than most of them, when I did my undergraduate degree back in the late 80s and early 90s
jj2424 @ Sat Jan 25, 2014 11:03 am
PublicAnimalNo9 PublicAnimalNo9:
I'm not wrong.
Cashier-Hourly $14.21
Merchandiser-hourly $11.75
Night Merchandiser-hourly $11.88
Front end assistant-hourly $11.69
Stocker-hourly $12.17
Major sales associate-hourly $12.17
Pharmacy Tech-hourly $18.75
Produce stocker-hourly $19.23
Stock clerk-hourly $15.15
Cashier assistant-hourly $11.63
Supervisor-hourly $20.74
Dept.Manager-salary $68,880
Electronics sales associate-hourly $12.20
Front end lead-hourly $22.68
http://www.glassdoor.com/Salary/Costco- ... 23_IN3.htm
WOW all that with just 15 locations in Alberta and only 10 in all of AZ.
How generous of them..after they charge for a friggen membership
andyt @ Sat Jan 25, 2014 12:25 pm
PublicAnimalNo9 PublicAnimalNo9:
Yeah, cuz COSTCO is so generous with what looks like an average hourly wage of around $12.00/hr.
I'm not wrong.
Cashier-Hourly $14.21
Merchandiser-hourly $11.75
Night Merchandiser-hourly $11.88
Front end assistant-hourly $11.69
Stocker-hourly $12.17
Major sales associate-hourly $12.17
Pharmacy Tech-hourly $18.75
Produce stocker-hourly $19.23
Stock clerk-hourly $15.15
Cashier assistant-hourly $11.63
Supervisor-hourly $20.74
Dept.Manager-salary $68,880
Electronics sales associate-hourly $12.20
Front end lead-hourly $22.68
http://www.glassdoor.com/Salary/Costco- ... 23_IN3.htm
I'm not wrong.
Cashier-Hourly $14.21
Merchandiser-hourly $11.75
Night Merchandiser-hourly $11.88
Front end assistant-hourly $11.69
Stocker-hourly $12.17
Major sales associate-hourly $12.17
Pharmacy Tech-hourly $18.75
Produce stocker-hourly $19.23
Stock clerk-hourly $15.15
Cashier assistant-hourly $11.63
Supervisor-hourly $20.74
Dept.Manager-salary $68,880
Electronics sales associate-hourly $12.20
Front end lead-hourly $22.68
http://www.glassdoor.com/Salary/Costco- ... 23_IN3.htm
From your own link:
$1:
Costco is known for paying its workers wages that are generally above average for the retail industry. An average Costco worker made about $45,000 in 2011, according to Fortune. That’s compared to an average of about $17,486 per year for a worker at comparable Walmart-owned Sam’s Club.
How this is an argument against raising the min wage, I don't understand.
andyt @ Sat Jan 25, 2014 12:57 pm
Since the OP for this topic disappeared:
$1:
Costco Is The Perfect Example Of Why The Minimum Wage Should Be Higher
Big-box warehouse store Costco is often compared with Walmart's Sam's Club. Both stores are places where people go to buy in bulk and save money.
But while Walmart employees are striking for higher wages and health care, Costco has some of the happiest employees in the business.
Costco pays its employees an average hourly wage of $11.50 to start. After five years, they make $19.50 an hour and get an "extra check," a bonus of more than $2,000 every six months, according to Slate.
While Wal-Mart's Sam's Club starts employees at $10 an hour, they make $12.50 after about five years, Slate reported.
Costco workers pay a 12 percent out of pocket premium for benefits, while Wal-Mart workers pay 40 percent.
This results in lower turnover and more skilled workers, Costco CEO Craig Jelinek said, according to the Puget Sound Business Journal.
He told advocacy group Business for a Fair Minimum Wage that he supports a national minimum wage increase.
The bill just introduced in Congress would increase the federal minimum wage to $10.10 an hour from $7.25 an hour over time.
“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,” Jelinek said in the statement.
Having more knowledgeable employees results in better sales, according to David Worrell at AllBusiness.com.
Costco averages $814 in sales per square foot, while Sam's Club makes just $586 per square foot.
In a recent earnings announcement, Wal-Mart Stores revealed that sales at Sam's Club were down.
Investing in employees creates loyalty and better customer service that trickles down to the consumer.
"Look at people as an investment and hire the best you can possibly afford," Worrell said. "Stretch to your limit to keep them excited about coming to work ... then watch as they actually perform."
Big-box warehouse store Costco is often compared with Walmart's Sam's Club. Both stores are places where people go to buy in bulk and save money.
But while Walmart employees are striking for higher wages and health care, Costco has some of the happiest employees in the business.
Costco pays its employees an average hourly wage of $11.50 to start. After five years, they make $19.50 an hour and get an "extra check," a bonus of more than $2,000 every six months, according to Slate.
While Wal-Mart's Sam's Club starts employees at $10 an hour, they make $12.50 after about five years, Slate reported.
Costco workers pay a 12 percent out of pocket premium for benefits, while Wal-Mart workers pay 40 percent.
This results in lower turnover and more skilled workers, Costco CEO Craig Jelinek said, according to the Puget Sound Business Journal.
He told advocacy group Business for a Fair Minimum Wage that he supports a national minimum wage increase.
The bill just introduced in Congress would increase the federal minimum wage to $10.10 an hour from $7.25 an hour over time.
“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,” Jelinek said in the statement.
Having more knowledgeable employees results in better sales, according to David Worrell at AllBusiness.com.
Costco averages $814 in sales per square foot, while Sam's Club makes just $586 per square foot.
In a recent earnings announcement, Wal-Mart Stores revealed that sales at Sam's Club were down.
Investing in employees creates loyalty and better customer service that trickles down to the consumer.
"Look at people as an investment and hire the best you can possibly afford," Worrell said. "Stretch to your limit to keep them excited about coming to work ... then watch as they actually perform."
Read more: http://www.businessinsider.com/costco-c ... z2rRTGn47D
andyt @ Sat Jan 25, 2014 1:01 pm
$1:
Of course the fundamental question comes up whether there should be a minimum wage at all–economists are divided on this issue. After all, in a free market, workers would just move to another employer if their current boss did not pay a justifiable wage. But there is no such thing as a free market anywhere: large companies, lobbyists, trade associations and politicians have done an excellent job sabotaging free enterprise in favor of an economic system skewed to those with the money and connections. Hence the odds are stacked against workers: the stubborn fact persists that the factory workers of our parents’ and grandparents’ generation would work in retail today because for many of them, these are the only jobs available....
So before the Walmarts of the world cry over a potential minimum wage increase, they should take a hard look at their overall strategies and corporate responsibility agendas. It is great to build parks, send employees to volunteer to schools and slap solar panels on top of warehouses. Taking responsibility for employees and treating them as assets, not liabilities, would be a huge step for social responsibility. Plus it would enhance these firms’ bottom line in the long run. Companies who pay employees better, and hire more of them, fare better on a variety of performance metrics.
So before the Walmarts of the world cry over a potential minimum wage increase, they should take a hard look at their overall strategies and corporate responsibility agendas. It is great to build parks, send employees to volunteer to schools and slap solar panels on top of warehouses. Taking responsibility for employees and treating them as assets, not liabilities, would be a huge step for social responsibility. Plus it would enhance these firms’ bottom line in the long run. Companies who pay employees better, and hire more of them, fare better on a variety of performance metrics.
http://www.triplepundit.com/2013/03/cos ... wage-hike/
Thanos @ Sat Jan 25, 2014 1:11 pm
Sucks when a boss gets crapped on for not treating his people like garbage. Heretic! Heathen! Infidel! You're not operating according to the plan! Burn him at the stake!