Target Corp. (NYSE: TGT) has announced that it will help pay for the college education of its more than 340,000 full-time and part time store workers.
What happened: The Retailers announced this week it is partnering with education platform Guild Education to provide access to more than 250 business-aligned programs from over 40 schools, colleges and universities. Target will also fund advanced degrees within the network of schools, paying up to $10,000 a year for masters’ programs.
Target is investing $200 million in the program over the next four years to help team members eliminate student loan debt.
“A significant number of our hourly team members build their careers at Target, and we know many would like to pursue additional education opportunities,” says Melissa Kremer, Target chief human resources officer. “Our team members are the heart of Target’s strategy and success, and we have a long history of investing in industry-leading pay, extensive benefits and career opportunities.”
What Else: Target employees will have a range of course options for high school completion to college prep and English language learning, as well as certifications, bootcamps, associate and undergraduate degrees. The schools involved in the program include the University of Arizona, Oregon State University and historically Black colleges and universities like Morehouse College and Paul Quinn College.
In 2020, Target moved to a $15 starting wage for all U.S.-based team members, and also offered coronavirus benefits to employees. The company says more than 25% of store directors began their careers at Target as hourly team members.
Photo: Courtesy of coporate.target.com
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