Gap Boosts Hourly Worker Pay Amid Debate About Minimum Wage
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Gap Inc., the owner of Old Navy, Banana Republic and its namesake apparel chain, will raise its hourly pay for U.S. employees to $9 in 2014 and $10 next year, saying it wants to “do more than sell clothes.”
The increased wages will benefit about 65,000 store employees by 2015, the San Francisco-based company said today in a statement. Chief Executive Officer Glenn Murphy announced the plan during an employee conference call this morning.