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Gap Inc. told its employees on Wednesday that the company will increase their workers’ minimum hourly pay rate to $9 this year and $10 by next year.
According to Gap, “To us, this is not a political issue. Our decision to invest in frontline employees will directly support our business, and is one that we expect to deliver a return many times over,” said Gap Inc. Chairman and CEO Glenn Murphy. He also said this increase would benefit 65,000 employees.
The pay increase will affect all six of Gap’s brands: Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix.
Gap Inc. is headquartered in San Francisco, Calif.
The New York Times writes, San Francisco has a $10.74 minimum wage and California has a new law that increases minimum wage to $10 an hour by 2016 and with Gap Inc.’s new plan, they will dodge controversy over differing wages in different states.
Gap Inc. used #letsdomore to tweet the news about their new minimum wage increase on Twitter. The hashtag also features community and volunteer organizations.
image: Wikimedia Commons