{"id":2379,"date":"2024-03-25T12:30:48","date_gmt":"2024-03-25T12:30:48","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/03\/25\/target-doubles-bonuses-for-salaried-employees-as-profits-surge\/"},"modified":"2024-03-25T12:30:48","modified_gmt":"2024-03-25T12:30:48","slug":"target-doubles-bonuses-for-salaried-employees-as-profits-surge","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/03\/25\/target-doubles-bonuses-for-salaried-employees-as-profits-surge\/","title":{"rendered":"Target doubles bonuses for salaried employees as profits surge"},"content":{"rendered":"

Target is ratcheting up bonuses for salaried employees, including leaders in stores and across supply chains, thanks to a surge in profits. <\/p>\n

The move comes thanks to $2 billion in additional profit growth for 2023, a company spokesperson said in a statement Thursday. <\/p>\n

<\/div>\n

Target\u2019s stock surged in November after having fallen for much of 2023 as the company reported it had lowered costs to offset a slowdown in consumer discretionary spending. Since mid-November, Target\u2019s shares have climbed 54%. <\/p>\n

The company spokesperson confirmed that eligible Target employees received 100% of their 2023 bonuses, up from 50% the previous year.<\/p>\n

\u201cWe\u2019re rewarding our team accordingly,\u201d the spokesperson said. <\/p>\n

In-store managers and supply-chain operation leaders are among those who will get the increased bonuses, the statement said. <\/p>\n

Bloomberg first reported the news. <\/p>\n

The profits bump is part of a trend of stronger earnings growth for companies across the board as inflation cools and labor productivity surges to all-time highs. <\/p>\n

On Thursday, stock indexes closed at all-time highs. <\/p>\n

The bonuses don\u2019t apply to Target\u2019s hourly employees, whose pay starts at $15 an hour except in markets like California, where it rises to $19.75. That compares with a starting hourly wage of $14 for Walmart workers.<\/p>\n<\/p>\n

This post appeared first on NBC NEWS<\/div>\n","protected":false},"excerpt":{"rendered":"

Target is ratcheting up bonuses for salaried employees, including leaders in stores and across supply chains, thanks to a surge in profits. The move comes thanks to $2 billion in additional profit growth for 2023, a company spokesperson said in a statement Thursday. Target\u2019s stock surged in November after having fallen for much of 2023 […]<\/p>\n","protected":false},"author":0,"featured_media":2380,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/2379","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=2379"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/2379\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/2380"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=2379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=2379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=2379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}