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NEW YORK — Ikea's U.S. division is raising the minimum wage for thousands of its retail workers, pegging it to the cost of living in each location, instead of its competition.
The 17% average raise, expected to be announced Thursday, is the Swedish ready-to-assemble furniture chain's biggest in 10 years in the U.S.
The pay increase will take effect Jan. 1. It will translate to an average wage of $10.76 an hour, a $1.59 increase from the previous $9.17.
About half of Ikea's 11,000 hourly store workers will get raises. The amount will vary based on the cost of living in each store location. Read more...
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