Aug 6 - Worker Wages: Wendy's vs. Wal-Mart vs. Costco

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 4 years ago '08        #1
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T2THEONE 859 heat pts859
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Aug 6 - Worker Wages: Wendy's vs. Wal-Mart vs. Costco
 

 
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visit this link Worker Wages: Wendy's vs. Wal-Mart vs. Costco - Yahoo! Finance

Can a company pay its workers well and also make money?

Many aren't quite hitting the right balance. Hundreds of dissatisfied workers at major American companies like Wal-Mart (WMT), McDonald's (MCD) and Wendy's (WEN) have joined protests nationwide in the past year demanding higher wages and better benefits.

One company that hasn't had to deal with such strikes is Costco (COST).

The no-frills warehouse chain pays its hourly workers an average of just over $20 an hour, compared to just under $13 at competitor Wal-Mart. Even President Obama praised Costco in a recent speech about helping the middle class.

The recession has been good for companies that targeted budget-minded customers. Sales at Costco have grown an average of 13% annually since 2009, while profits have risen 15%. Its stock price has more than doubled since 2009.

During the same period, discount retailer Wal-Mart's sales grew an average of 4.5% each year, profits rose 7%, and its stock price increased 70%.

Costco seems to be investing some of those profits back into its employees.

Cesar Martinez, a 37-year-old fork lift operator, has worked at a Costco in North Carolina for 19 years. He makes $22.82 an hour, gets health benefits and a pension plan. He manages to save, and doesn't worry about hospital bills for his daughter, who suffers from asthma.

"That's the reason why I've been here for so long," he said. "The company gives you a decent wage and treats you with respect and takes care of you. That's why we all give 100%."

Some experts say companies aren't able to adopt the Costco model, because they can't charge its $55 annual membership fee.

However, research shows that it pays to pay employees well, because satisfied workers are more productive and motivated, according to MIT Sloan School of Management professor Zeynep Ton, who focuses on operations management.

"How many times have you gone to a store, and the shelves are empty or the checkout line is too long, or employees are rude?," she said. "At Costco, you see a huge line that disappears in minutes."

The productivity translates into sales, she said.

According to Ton's research, sales per employee at Costco were almost double those at Sam's Club, its direct warehouse competitor owned by Wal-Mart.

Workers who are dissatisfied with pay are joining picket lines. Last week, fast food workers in seven cities from chains like McDonald's, Wendy's and Yum (YUM) Brands-owned KFC, protested for higher wages of $15 an hour. It's a demand they've been making since last November.

It's been spreading -- from hundreds of Amazon warehouse workers in Germany to Wal-Mart workers walking off work, all calling for better pay, fair schedules and affordable health care.

The median pay for fast food workers nationwide is $9.05 an hour, or about $18,800 a year.

"While the fast food and retail industry is making record profits, its workers are forced to rely on public a.ssistance just to afford the basics," according to Fast Food Forward, a union- and community group-backed organization behind some of the protests.

89 comments for "Aug 6 - Worker Wages: Wendy's vs. Wal-Mart vs. Costco"

 4 years ago '07        #2
Ham Rove 3510 heat pts3510
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Why I shop @ Costco.
 4 years ago '04        #3
ruff 6 heat pts
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Cinnamon lost
 4 years ago '07        #4
Ham Rove 3510 heat pts3510
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 ruff said:
Cinnamon lost
Just realized her name was cinnamon
 4 years ago '07        #5
infamxus 12 heat pts12
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that costco money
 4 years ago '05        #6
Garnet & Gold 42 heat pts42
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So we're just gonna compare someone that's been working at the place for 19 years to some ratchet named Cinnamon? I get what the story is trying to do, but how long have the other two people been working at Wal-Mart and Wendy's. Maybe compare new employees for each company, I don't know
 4 years ago '08        #7
Andre3stacks 20 heat pts20
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New employees damn sure dont get paid 22 an hour with little to no experience.
 4 years ago '06        #8
RAZAH CUTS 5835 heat pts5835
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i fu*k w/ Costco...

wish more companies treated their workers like this.. but they don't... capitalism doesn't require them to...
 4 years ago '09        #9
messy marv stan 4531 heat pts4531
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the walmart regime is the largest private employer in the country
the empire doesnt allow its workers to form a union
 4 years ago '07        #10
cankstoochie 48 heat pts48
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the bi*ch name is cinnamon. her mother lost and she should be selling pus*y for $7 on the corner
 4 years ago '05        #11
Fresh|B 976 heat pts976
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....Costco $20 HR? Bulllssshhhiiitttt....
 4 years ago '08        #12
Kewop Decam 79 heat pts79
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two young black people and some old hispanic dude.


Also the dude at Costco does what exactly? I know he not working the register making $22. Probably out back lifting all kind of boxes and crap.
 4 years ago '08        #13
Kewop Decam 79 heat pts79
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also dude was promoted. What was his salary before the promotion?
 4 years ago '12        #14
OldBusiness 163 heat pts163
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 Fresh Whyte said:
....Costco $20 HR? Bulllssshhhiiitttt....
Know quite a few people making that or more at the one out here and they aint been there 19 years. Just google that sh*t or go on glassdoor or w/e its called

Majority of Costco employees talk about that place like its heaven
 4 years ago '05        #15
pnoi89 11 heat pts11
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 Fresh Whyte said:
....Costco $20 HR? Bulllssshhhiiitttt....
 OG k!lla said:
Know quite a few people making that or more at the one out here and they aint been there 19 years. Just google that sh*t or go on glassdoor or w/e its called

Majority of Costco employees talk about that place like its heaven
A friend of mine loves his job at Cost Co... He's currently floating around $20 hourly as a tires manager.
 4 years ago '07        #16
Ham Rove 3510 heat pts3510
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 OG k!lla said:
Know quite a few people making that or more at the one out here and they aint been there 19 years. Just google that sh*t or go on glassdoor or w/e its called

Majority of Costco employees talk about that place like its heaven
its because they treat their employees decently, healthcare plans decent living wage etc.
 4 years ago '05        #17
Young OG 164 heat pts164
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most people at wal-mart don't make what homeboy makes. they get around 8 dollars an hour. so he's prolly been there a year or two. also if the black dude gets promoted to supervisor he'll make an extra 25 cents


the part timers work 33 hours a week. if they work 34 they are eligible for benefits.



when obamacare goes into effect they'll knock the part timers down to 24 hrs a week. and hire more seasonal workers to offset that and keep hiring and firing people every couple months..

At the store I work at they actually have said that they will never hire another permanent postion..

wal-mart is really the devil.
 08-07-2013, 02:43 AM         #18
Hurricane24 
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Ya I know people on Costco and they love it, I think cashiers there start around 13.60 an hour and only goes up, I worked at Amex they also know how to treat their employees, 2 companies I respect, they still have dignity
 4 years ago '10        #19
LORD PLISSKEN 15 heat pts15
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n*gga Finna find a Costco application immediately
 4 years ago '10        #20
Trilluminati GA 433 heat pts433
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costco for the win
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