Industry / Operations

Signet Raises Minimum Wage to $15 an Hour


Signet Jewelers has raised the minimum wage for all its U.S. workers to $15 an hour.

The new wage will be rolled out by spring of 2022, and will cover all the company’s full- and part-time workers, as well as its virtual jewelry consultants.

The move follows Signet’s Love Takes Care Appreciation Award, a bonus it paid to full- and part-time hourly employees in recognition of their work during the pandemic.

“We believe that raising our minimum wage is the right thing to do,” said Signet CEO Gina Drosos in a statement. “Our team showed incredible agility, creativity, and compassion this past year, learning new capabilities that accelerated our transformation, exceeded customers’ expectations, and delivered the best holiday season we’ve had in nine years.”

Signet said it’s made “ongoing investments” in its people over the last year, including offering additional paid time off for parental care, community service, voting, and vaccinations. In addition, Signet leaders, including Drosos, have conducted open and honest discussions with employee about issues such as social justice and racism, as they continue to stress inclusion as a company priority.

And after some dramatic layoffs, the company is in hiring mode again, recruiting seasonal in-store concierges, 700 virtual jewelry consultants, and 200 new facial piercing artists for Piercing Pagoda.

Signet follows in the steps of several big retailers that have raised their minimum wage to $15. Costco, Target, and Kroger—owner of the Fred Meyer Jewelers chain—have all set their minimum wage at $15 an hour. Earlier this month, Walmart announced that it was raising its average minimum wage to $15, but since that’s an average many of its employees still earn below that. In 2018, Amazon raised its minimum wage to $15, but the notoriously worker-unfriendly company also slashed benefits, so some workers’ compensation actually decreased.

President Joe Biden has included a federal $15 minimum wage in his proposed COVID-19 stimulus bill, but he has indicated privately that that provision might not survive final passage.

This report has been corrected to note that the new minimum wage takes effect in spring of 2022.

(Photo courtesy of Signet Jewelers)

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By: Rob Bates

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