Online furniture retailer Wayfair Inc. (W) said Thursday it has raised wages to a minimum of $15 per hour for all its U.S. employees.
The increase is effective January 3 this year and applies to full-time, part-time, and seasonal employees across the company’s U.S. operations.
Wayfair said that more than 40 percent of its hourly employees working across its U.S. supply chain and customer service operations will benefit from this.
Wayfair’s ‘Dinner To Go’ program had provided its frontline employees with two free, family-sized meals each week from local, family-owned restaurants amid the difficult months of the pandemic.
The company noted that the initiative supported its frontline teams as well as struggling small businesses in areas across Wayfair’s logistics network.
Amid the Covid-19 pandemic, Wayfair also supported its employees through an ongoing pay premium for its frontline team, bonuses, emergency paid time off, and childcare support for all employees.
The benefits package includes equity, 401K matching, tuition reimbursement, mental health support, paid time off, and an employee discount across all Wayfair sites.
Over the past year, Wayfair has invested more than $12 million in the greater community, including $3 million in small businesses.
In February 2020, Wayfair said it was cutting 550 jobs, or about 3 percent of its workforce. The retailer was struggling with high costs to run the business and also had to deal with stiff competition from furniture retailer Ikea and e-commerce giant Amazon.
After reporting a loss for the first quarter of 2020, Wayfair has reported profits for the next two quarters.
Amazon had said in October last year that it has promoted more than 35,000 employees. On top of a $15 minimum wage, full-time employees would receive comprehensive benefits from day one, including health, dental, and vision insurance, 401K with 50 percent company match.
Source: Read Full Article