In a letter dated July 11, Starbucks founder and CEO Howard Schultz announced that the international coffee purveyor would be raising base pay for its U.S. employees this fall:
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“[E]ffective October 3, all partners and store managers in U.S. company-operated stores will receive an increase in base pay of 5% or greater. The range of increase will be determined by geographic and market factors and is intended to ensure Starbucks remains a retail employer of choice in all the markets where we operate.”