CVS – COVID-19 test maker Labcorp raises minimum hourly wage to $15
Sept 2 (Reuters) – Laboratory Corp of America Holdings (LH.N) said it has increased the minimum hourly wage for U.S.-based employees to $15 from $10.95, joining several other companies in implementing new measures to retain staff amid a nationwide labor shortage.
The diagnostic tests maker, which has more than 70,000 employees, said on Thursday the new minimum wage for non-union employees is effective this month.
With the spread of the highly contagious Delta variant and a nationwide labor shortage due to the pandemic, U.S. companies are forced to implement payment hikes to lure new employees and retain old ones.
Labcorp and peer Quest Diagnostics (DGX.N) recently said the spread of the Delta variant led to an uptick in demand for their COVID-19 tests in July.
Reporting by Manojna Maddipatla in Bengaluru; Editing by Amy Caren Daniel
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