New York-based insurer MetLife said Thursday that it is 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, in a statement. “It is our employees who help us deliver on the promises we make, so their well-being is paramount.”
The move builds on MetLife’s 2018 launch of its $10 million Workforce of the Future Development Fund. The insurer — which employs over 46,000 individuals worldwide — also has supported specialized training and career path development, it says.