Target, the 8th largest retailer in the US, announced on Wednesday that it will be raising the minimum wage to $15 an hour.
The company's previous minimum wage was $13, but in the US federally mandated minimum wage is currently $7.25 an hour.
The company announced that all full-time and part-time employees at stores, distribution centers and headquarters will be eligible, reaching of total of 250,000 who will enjoy the raise.
Additionally, the company will offer a $200 one-time bonus to "frontline store and distribution center hourly workers for their efforts throughout the coronavirus pandemic," Target announced.
Melissa Kremer, Target's Chief Human Resources Officer, said in a statement that "the most important investments we make are in our team… These investments help ensure that team members can build meaningful careers, take care of themselves and their families and contribute to building our communities through their work inside and outside of Target."
The announcement is especially notable, considering the ongoing coronavirus pandemic, which has caused millions of Americans to file unemployment claims over the past couple of months, since the pandemic forced the shutdown of major parts of the US economy.