Synchrony To Raise Minimum Wage To $20/hour For All Hourly Employees In The U.S., Puerto Rico

(RTTNews) - Consumer financial services company Synchrony Financial (SYF) announced Tuesday it will raise its minimum wage to $20 per hour for all hourly employees in the U.S. and Puerto Rico, effective in August.

Synchrony's new hourly minimum wage of $20 will benefit more than 5,000 full- and part-time employees. The company also committed to fund its 2021 bonus program so that full-time hourly employees would be eligible for a $1,000 bonus.

This action furthers the company's commitment to a culture of caring and providing its employees with competitive wages and progressive benefits.