The Gap to Raise Minimum Wage to $10 an Hour

The retailer will do so by June 2015

   

The Gap to Raise Minimum Wage to $10 an Hour

Gap (GPS) announced that it is raising its minimum wage to $10 an hour by mid-2015.

The Gap The Gap to Raise Minimum Wage to $10 an HourThe retailer will raise its employees’ minimum wage to $9 in June 2014 and $10 in June 2015. The company’s move will benefit about 65,000 employees in its apparel chains which include Old Navy, Banana Republic and Gap.

The move comes after the White House said that the minimum wage for federal contract workers would go up to $10.10 an hour in 2015. President Obama praised Gap for following suit, saying that he applauds the retailer for their decision to raise employee wages.

GPS stock is up about 0.25% Thursday.

More Minimum Wage News


Article printed from InvestorPlace Media, http://investorplace.com/2014/02/gap-minimum-wage-gps-stock/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.