6 October 2021
The Weekly

Categories: Department Stores, HR

South Africa

Woolworths has committed to investing an extra R120mn (US$ 8mn) in wages over the next three years, and has approved a 4.5% increase for South African store staff.  More than 20 000 store staff will benefit from the planned increase, which Woolworths believes will go a long way towards its aspirations to pay a ‘just wage’. The Woolies base pay last year was 47% higher than the South African minimum wage rate and 13% above that of the retail sector. For the full year, group sales increased by 9.7% to R85.9bn (US$5.6bn), adjusted profit before tax was up 110.7% to R4.6bn (US$ 298mn).