Target to pay full cost of college tuition for employees

Target to pay full cost of college tuition for employees

- Target Corp said it will invest $200 million over the next four years to offer its greater than 340,000 U.S. based part-time and full-time frontline workers debt-free assistance for select undergraduate degrees and certificates.

The move comes at a time when employers in the United States are raising benefits and banning wages because they struggle to find and retain enough workers, particularly in retail and restaurants.

Target's rival Walmart Inc said last month it would pay full cost of college tuition and books for its roughly 1.5 million full and part-time employees, effective Aug. 16.

Toronto-based Target also said its frontline workers at stores, distribution centers and headquarters could choose from 250 business programs at more than 40 institutions, including the University of Arizona and Oregon State University.

For employees pursuing courses outside the select degrees in the program built with the upskilling platform Guild Education, Target will provide direct payments of up to $5,250 for non-master's degrees to academic institutions and up to $10,000 for master's degrees each year.

Target raised minimum U.S. workforce starting wage to $15 in 2012 for team members.