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Starbucks promises a chainwide pay raise

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Starbucks promised today to give every U.S. store employee and manager a wage increase on Oct. 3.

In addition, the chain said it would double its stock awards to employees who have worked at the chain for at least two years.

The changes will raise the annual compensation of unit employees by 5% to 15%, according to the announcement, which came in the form of a memo from CEO Howard Schultz to all 157,000 people who work in Starbucks’ 7,600 stores.

The memo was leaked to the media.

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