Goodwill Industries, the company that runs the Goodwill retail store chain, announced this week that it will offer its workers a 10% raise, in exchange for an increase in their wages.
The announcement comes as Walmart and Target are planning to cut about $2 billion in wages by 2020.
Walmart CEO Doug McMillon told The Washington Post on Tuesday that the company is “really excited about this change,” which he called “a step in the right direction.”
Goodwill Industries has more than 2,000 stores across the country, including in cities like Dallas and New York.
The company announced the wage increase Monday, and CEO Richard Thompson said it will “help the store’s workforce and customers” as the company looks to grow its workforce by “about 30 percent annually through the next four years.”
“It’s a good day for the Goodwills workers, and a good morning for us,” Thompson told CNBC on Tuesday.
“The company is very excited about the opportunity.”
Walmart and Target, meanwhile, announced last month that they would increase their pay and benefits by 10% this year and 10% in 2019, and they’re also expected to reduce pay by about 25% in 2020.