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TJ Maxx Copycats Walmart with Wage Hikes

Posted by on February 26, 2015 in Economy with 0 Comments

Alexander C. Kaufman | Huffington Post

Walmart isn’t the only retailer bumping its minimum wage to $9 an hour.

T.J. Maxx, Marshalls and other department stores owned by TJX Companies said Wednesday that they would increase pay for their lowest-paid workers to $9 an hour in June. The move comes six days after the world’s biggest retailer announced a similar raise for its employees.

Like Walmart, T.J. Maxx will bump pay to $10 an hour next year for workers who have been there at least six months.

Economists said Walmart's decision to give raises to about a third of its 1.4 million employees would put pressure on other low-wage employers to do the same.

This pay initiative is an important part of our strategies to continue attracting and retaining the best talent in order to deliver a great shopping experience, remain competitive on wages in our U.S. markets, and stay focused on our value mission,” Carol Meyrowitz, TJX’s chief executive, said in a statement included with the company's fourth-quarter earnings…

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