The Kroger Co. (NYSE: KR) said today that if its planned merger with Albertsons Companies goes through, it will give more resources to more employees.
As part of this pledge, Kroger will give more than 700,000 full-time and part-time employees access to its continuing education benefit, which pays up to $21,000 toward higher education or continued development. The new business will also make its Goldman Sachs Ayco financial coaching tool easier for more people to use. These programs build on the promise made before the merger that the combined company would spend $1 billion to keep raising wages and perks for employees.
Rodney McMullen, chairman and CEO of The Kroger Co., said, “Our employees are at the center of everything we do.” “Kroger’s educational perk is one of the best in the business, and it helps employees learn in any way they want. Our decision to provide financial advice gives our employees the tools they need to make a budget, pay off debt, or start saving for retirement. These two tools are just two examples of how we invest in our employees in a way that takes into account their whole lives. Our world-class benefits plan includes a small part of growing these programs.
Under Kroger’s continuing education program, both full-time and part-time employees can get up to $21,000 back to pay for higher education or growth. Associates can use the money to take the High School Equivalency Test, get a trade certification, or go to college. Since the program began in 2018, more than 15,000 employees have taken part in it.
Kroger’s free financial counseling tool gives hourly and salaried employees access to coaches and online tools and resources to help them make a savings plan, learn how to avoid common financial mistakes, and look for ways to get the most out of all company perks.
Find out more about working at Kroger. Click here to find out more about the plan for Kroger and Albertsons Cos to join together.
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