NEW YORK — Telecommunications giant Verizon announced that it is raising its minimum wage of most employees to at least $20 an hour.
In a press release Monday, the wireless conglomerate said that new employees joining as customer service or sales employees can expect this new minimum rate, and current employees who do not yet meet this standard will have their wage automatically raised.
Assistant managers who work on holidays, Sundays or who are bilingual will also be eligible for premium pay differentials, the company said.
“These changes are the direct result of employee feedback and will help us remain an attractive employer in this competitive environment," said Krista Bourne, Chief Operating Officer for Verizon Consumer Group.
In addition to the wage raise, Verizon is also offering sign-up bonuses for retail specialist and assistant manager positions, as stated in the the press release. The bonus amount depends on the responsibilities of the position and location of the market.
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Although the federal minimum wage of $7.25 hasn't been raised in 13 years, some companies are responding with their own salary changes as they try to fill blue-collar job vacancies as consumer demand for products from business like retailers and fast-food chains skyrocketed during the pandemic, according to Fortune Magazine.
In February, Minneapolis-based Target announced that it would raise its minimum rate to $24 for some markets. The retail giant had set a new marker for the industry when it announced it would increase hourly wages to $15 by 2020.
