FedEx announced today that they would be providing a 2% pay raise to all employees across the world.
The Fortune 500 business boasts 500,000 people on their payroll with more than $69 billion in annual revenues, according to the company.
The way FedEx will disburse the raises among their internal departments will vary. The money, itself, is being contributed to a salary pool.
“FedEx team members continue to go above and beyond during these unprecedented times,” said Shannon Davis-Ford, spokeswoman for the company. “FedEx is funding this year’s salary budget pool at two percent. We would like to thank our team members for delivering the Purple Promise every day during these difficult and challenging times.”
The FedEx facility in Columbus is the center of its significant central Ohio operations, where the company employs more than 1,000 people; the distribution center hires hundreds more during the holidays. Most recently, more than 500 new employees were hired to handle the influx of packages due to COVID-19.
The raise goes into effect by October.