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IKEA to Increase Pay, Benefits to $16/HourPOSTED December 7, 2021 CONSHOCKEN, PA -- IKEA, the giant Swedish retailing chain of home furniture, said it will raise minimum pay of workers in the U.S to $16 per hour with some going to $17 or $18 depending on location. The new starting wage is effective January 1, 2022, and will apply to full-time, part-time, temporary, and seasonal co-workers across the U.S., bringing the average hourly wage to $20. In addition to the wage increase announced, the company will improve its comprehensive benefits package to now include a minimum of five weeks of paid time away from work for all co-workers, education assistance, back-up child and adult care, and more inclusive health care benefits. Following a strong sales performance in FY21, a majority of U.S. co-workers will also receive the "One IKEA Bonus," a performance-based payout totaling $76 million, in addition to the one-time Ingka global appreciation gift of $17 million to be distributed among all U.S. co-workers. "Every day I am humbled by our 17,000 co-workers, each of whom makes our success as a company possible and contributes to our commitment to creating better homes, better communities, and a better planet," said Javier Quiñones, CEO & Chief Sustainability Officer, IKEA U.S. "I am proud of everything we have accomplished over the past year, and we will continue to seek opportunities to grow our compensation and benefits offer and share our success with our co-workers." IKEA U.S. had one of its most successful years to date with nearly $5.89 billion in total sales of goods and services in FY21, a 25% increase from the previous year. There are 51 IKEA stores in the U.S., including 5 in the New York metro area. |
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