MetLife Raises U.S. Minimum Wage to $20 an Hour

Rhea-AI Summary

MetLife, Inc. (NYSE: MET) has announced an increase in its U.S. minimum wage to $20 an hour, aimed at enhancing employee financial security. CEO Michel Khalaf emphasized that the well-being of employees is crucial for delivering on company promises. This wage increase is part of ongoing investments in workforce development, including a $10 million fund established in 2018 for training and career development. MetLife continues to strengthen its workforce while fostering a culture of learning and innovation.

Positive

• Increase in U.S. minimum wage to $20 an hour enhances employee financial security.
• Ongoing investments in workforce development, including a $10 million fund launched in 2018.
• Focus on training and career development promotes a culture of learning and innovation.

Negative

• None.

MetLife, Inc. (NYSE: MET) announced today that it is increasing its investment in its employees and strengthening their financial security by raising its U.S. minimum wage to $20 an hour.

“By raising our minimum wage, we’re offering security and confidence to our people just as we do our customers,” said MetLife President and CEO Michel Khalaf. “It is our employees who help us deliver on the promises we make, so their well-being is paramount.”

The new minimum wage is the latest in a series of investments the company has made to develop its workforce over the past several years. Since launching its $10 million Workforce of the Future Development Fund in 2018, MetLife has made additional investments in customized training and career path development, helping to prepare its employees for the future while accelerating a culture of learning and innovation.

About MetLife

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210819005504/en/

FAQ

What is MetLife's new minimum wage?

MetLife has raised its U.S. minimum wage to $20 an hour.

When was the Workforce of the Future Development Fund launched by MetLife?

The Workforce of the Future Development Fund was launched in 2018.

Who is the CEO of MetLife?

The CEO of MetLife is Michel Khalaf.

How does MetLife support its employees?

MetLife supports its employees through increased wages and investments in training and career development.

What is the primary goal of MetLife's recent wage increase?

The primary goal of the wage increase is to enhance employee financial security and well-being.