“As I shared with you last month, love and responsibility are what brought me back to Starbucks: my love of the company and my deep responsibility to our partners and shareholders. In a letter to Starbucks partner on Tuesday, Schultz reflected on what he’s learned during collaboration sessions over the last month and shared his ongoing commitment: To read the full press release on investments, go here. Now, we are extending the Third Place concept of Starbucks into a new kind of community," Brewer said during the earnings call. We brought this to life in what we’ve called the Third Place – a place between home and work where you could connect and feel a sense of belonging, over coffee. "From our beginning, we have nurtured human connection and served a fundamental belief that coffee brings us togethe r. Also during the Tuesday earnings call, Brady Brewer, Starbucks chief marketing officer, shared plans for a series of branded NFT collections, the ownership of which initiates community membership, and allows for access to exclusive experiences and perks. The company is also planning to introduce credit /debit card tipping, equipment and technology enhancements and launch a modernized recognitions program. These are one-time investments in base pay in addition to our planned FY23 raises this fall. On August 1, Starbucks will also double our planned investments in store manager, assistant store manager and shift manager pay for leaders hired on or before May 2. Partners with 5+ years of service will receive at least a 7% increase or move to 10% above the market start rate, whichever is higher. Partners with 2-5 years of service will receive at least a 5% increase or move to 5% above the market start rate, whichever is higher. All partners hired on or before May 2 will get either a 3% raise or $15/hour, whichever is higher.įurther, Starbucks will continue to recognize tenured partners. On August 1, average hourly pay at Starbucks will be nearly $17/hour nationally. store partners, while recognizing and rewarding tenure. store partners to a $15/hour floor this summer, effective August 1, and also adding incremental increases that will apply to all U.S. As previously announced, Starbucks is moving all U.S. Increased pay and support with financial stability.
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