Ikea to Hike Minimum Wage to $10 an Hour

Ikea will boost its minimum wage to $10 per hour next year, the company said Wednesday. The company's new $10 minimum will be a 15 percent hike from existing pay, while some workers will make more than $14 an hour. Ikea's wages vary from store to store depending on the local cost of living, thanks to a new plan it implemented in January. That's when the store started to tie its pay to the MIT Living Wage Calculator, which uses food prices, taxes, housing and transportation costs to calculate a "living wage" for metropolitan areas. The move gave 15,000 U.S. Ikea employees a raise at the start of this year.