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MIAMI (CBSMiami) — Target is raising its minimum wage to $11 per hour and by 2020 plans to pay employees way more than that.

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The company announced Monday that they will raise the minimum hourly wage to $11 by October and to $15 by the end of 2020.

This means thousands of hourly workers in the company are getting a raise.

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Target’s CEO and chairman said this is part of the company trying to get and keep strong team members and in turn give customers a better experience in the communities they serve.

“Target has a long history of investing in our team members. We care about and value the more than 323,000 individuals who come together every day with an absolute commitment to serving our guest,” said Target and chairman CEO Brian Cornell.

The pay increase also applies to the more than 100,000 workers that Target plans to hire for the holiday season.

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On top of better pay, the company plans to offer more tools, training and support to employees.