Sam's Club Announces Pay Raise for All Employees

(CNN) — Sam’s Club is raising wages to encourage workers to stay with the company.

The warehouse store announced it would raise its employees’ minimum wage from $15 to $16 an hour starting in November.

Sam’s Club, a membership-based arm of Walmart, will also raise wages for its nearly 100,000 employees, ranging from 3% to 6% — depending on the worker’s seniority.

The pay raise comes after the store’s main competitor, Costco, announced that its employees will be paid $19.50 an hour to start.