Labcorp Increases Minimum Hourly Wage To $15

  • Laboratory Corp of America Holdings LH has increased the minimum hourly wage for U.S.-based employees to $15 from $10.95.
  • The Company joins several other firms in implementing measures to retain staff amid a nationwide labor shortage.
  • Lab Corp has more than 70,000 employees and said that the new minimum wage for non-union employees is effective this month.
  • Other U.S. companies such as Walgreens Boots Alliance Inc WBACVS Health Corp CVS, and Walmart Inc WMT also raised the minimum hourly wages for employees in recent weeks, reports Reuters.
  • Read Next: Stock Wars: CVS Health Vs. Walgreens Boots Alliance.
  • Price Action: LH stock closed 1.11% higher at $308.34 on Thursday.
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