1,000,000 + Attorneys and Legal Staff - Legal employers hire more people on LawCrossing than any other site.
Livedrive Riles UK Customers by Abruptly Terminating Services
Livedrive Riles UK Customers by Abruptly Terminating Services
Bank of America Asks Judge to Throw Out Jury Verdict in Fraud Case
Bank of America Asks Judge to Throw Out Jury Verdict in Fraud Case
Federal Judge Rejects Multi-Million Dollar Settlement Between Hewlett-Packard and Shareholders
Federal Judge Rejects Multi-Million Dollar Settlement Between Hewlett-...
Man Speared Through Throat By McDonald’s Orange Juice Sues
Man Speared Through Throat By McDonald’s Orange Juice Sues
Job Listings

Profit for Costco Soars After CEO Backs Increase of Minimum Wage

The CEO of Costco, Craig Jelinek, discussed his agreement with the increase of the minimum wage in the United States last week. Since then, the profit of the company in the last quarter hit $537 million, which is an increase from $394 million for the same time last year, according to the Wall Street Journal.

“At Costco, we know that paying employees good wages makes good sense for business,” Jelinik said in a statement last week. “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. We support efforts to increase the federal minimum wage.”

The company has come to be known for paying its employees wages well above the average in the retail industry. In 2011, an average worker at the company made $45,000, according to data from Fortune. Compared to Walmart, those workers made an average of $17,486 per year.

What

 job title, keywords

Where

 city, state, zip



Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!


Costco has reported more than $10,000 in profits per employee because of the extra pay. Walmart makes $7,400 per employee, according to the Daily Beast. Costco also offers its employees health insurance, both full and part-timers. Some analysts say that the added wages are not good for shareholders, but if the profit numbers for last quarter are true, not many shareholders are going to care.

Profit for Costco Soars After CEO Backs Increase of Minimum Wage by

Tagged: ,

Posted by on March 13, 2013. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

Job of the Day
Medical Malpractice Defense Associate
USA-NY-White Plains

Our client is currently seeking a Defense Medical Malpractice Associate with the following: JD from an accredited law school Must be admitted to practice in the state of New York 2-...