Synchrony raises minimum wage to $20 per hour

Synchrony plans to raise the minimum wage for all of its hourly employees in the U.S. and Puerto Rico to $20 per hour.

synchrony financial

The Stamford company’s move takes effect in August and will cover more than 5,000 full- and part-time employees. The company added that it will bolster its 2021 bonus program in order to enable full-time hourly employees to become eligible for a $1,000 bonus.

“Companies have a responsibility to their communities and their employees,” remarked Brian Doubles, president and CEO of Synchrony, who added that the compensation upgrade will “allow us to remain an employer of choice now and for the future.”