Verizon says it’s boosting its minimum wage to $20 an hour


Verizon Communications Inc. VZ, -0.82% plans to raise the minimum wage for new employees to $20 an hour, the telecommunications company said Monday. The new minimum wage will apply to customer service employees, as well as to retail and inside sales employees “when base salary plus target commission are combined.” Current Verizon employees on those teams who don’t already make $20 an hour will be automatically bumped up to the new rate. Verizon will be introducing “premium pay differentials for assistant managers who work on holidays, Sundays and for those who are bilingual,” the company said in a release. It will also introduce a signing bonuses for retail specialists and assistant managers in “many markets.” Shares of Verizon have gained 4.0% so far in 2022 as the Dow Jones Industrial Average DJIA, -0.11% has lost 5.0%.

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