Coffee chain Starbucks to hike US wages

Starbucks, facing growing competition for workers in the US, plans to raise employee compensation by up to 15% later this year.

Staff in its US company-operated stores will get a bump in base pay of at least 5% on October 3, Starbucks said in a statement yesterday.

The coffee chain also is doubling the size of its annual stock award to employees who have been with the company for two years.