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Verizon is raising its minimum wage to $20 an hour for new and current employees amid a tight job market, the company announced Monday.
The rate applies to new hires in retail and customer service, while current employees earning less than $20 an hour will get a raise. All deputy managers who work holidays and Sundays and are bilingual receive bonus differentials, Verizon said.
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“These changes are a direct result of employee feedback and will help us remain a great place to work in this highly competitive environment,” said Krista Bourne, Verizon Consumer Group’s chief operating officer, in a statement.
| ticker | security | Last | To change | To change % |
|---|---|---|---|---|
| vz | VERIZON COMMUNICATIONS INC. | 53.39 | -0.44 | -0.82% |
Verizon also offers signup bonuses for retail specialist and assistant manager positions in some US markets.
“I’m confident these changes will help us attract and retain the best talent and allow us to continue to improve our customer experience,” said Bourne.
Verizon Wireless retail location in Indianapolis, Indiana. (iStock / iStock)
The announcement comes after other big companies like Chipotle, Walmart and Walgreens recently raised starting wages for employees.
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Verizon’s direct competitor, T-Mobile, raised its minimum wage for all employees to $20 an hour in December 2021.
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“Paying employees a good wage while they advance their careers has led to growth for our company,” said Mike Sievert, CEO of T-Mobile, in a press release.