Kroger to Bring More Resources to 700,000+ Associates

Rhea-AI Summary

Kroger commits to offering more resources to associates following merger completion, including continuing education benefit and financial coaching tool

Positive

• Kroger will provide 700,000+ associates access to a continuing education benefit of up to $21,000 for higher learning or development
• The combined company will expand access to the Goldman Sachs Ayco financial coaching tool
• Kroger will invest $1 billion to raise associate wages and benefits

Negative

• None.

Retailer to offer more associates programs aimed at continuing education and financial literacy following merger completion

CINCINNATI, Aug. 9, 2023 /PRNewswire/ -- The Kroger Co. (NYSE: KR) announced today a commitment to offer more resources to more associates following the completion of its proposed merger with Albertsons Companies.

As part of this commitment, Kroger will provide 700,000+ part-time and full-time associates access to its continuing education benefit, which offers up to $21,000 of reimbursement toward higher learning or continued development. The combined company will also expand access to its Goldman Sachs Ayco financial coaching tool. These programs build on the previously stated commitment that the combined company will invest $1 billion to continue raising associate wages and comprehensive benefits.

"Our associates are at the center of everything we do," said Rodney McMullen, chairman & CEO, The Kroger Co. "Kroger's industry-leading educational benefit supports associates who are interested in advancing their learning in any way they want. Our commitment to offering financial counseling services provides associates with the tools they need to build a budget, pay off debt or begin saving for retirement. These two tools are just some examples of the ways we invest in our associates holistically. Growing these programs is one small part of the world-class benefits plan we offer."  

Under Kroger's continuing education program, part-time and full-time associates can take advantage of up to $21,000 of reimbursement toward higher learning or continued development. Associates can use the funding to pursue a high school equivalency exam, professional certification or advanced degree. Since its inception in 2018, more than 15,000 associates have participated in the program.

Kroger's free financial counseling tool offers both salaried and hourly associates access to coaches as well as online tools and resources to create a savings plan, learn how to avoid common financial pitfalls and explore opportunities to maximize all available company benefits.

Learn more about pursuing careers at Kroger. To learn more about the proposed merger between Kroger and Albertsons Cos visit here.

About Kroger
At The Kroger Co. (NYSE: KR), we are dedicated to our Purpose: To Feed the Human Spirit™. We are, across our family of companies nearly half a million associates who serve over 11 million customers daily through a seamless digital shopping experience and retail food stores under a variety of banner names, serving America through food inspiration and uplift, and creating #ZeroHungerZeroWaste communities by 2025. To learn more about us, visit our newsroom and investor relations site.

 

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SOURCE The Kroger Co.

FAQ

What resources will Kroger offer to its associates after the merger?

Kroger will offer a continuing education benefit of up to $21,000 and expand access to the Goldman Sachs Ayco financial coaching tool

How many associates will have access to the continuing education benefit?

Over 700,000 part-time and full-time associates

How much will Kroger invest in raising associate wages and benefits?

Kroger will invest $1 billion

What can associates use the continuing education benefit for?

Associates can use it for higher learning, professional certification, or advanced degrees