OpenAI Explores Massive Funding Round at $750 Billion Valuation 
Volaris and Viva Agree to Merge, Creating Mexico’s Largest Low-Cost Airline Group 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
Asian Markets Rebound as Tech Rally Lifts Wall Street, Investors Brace for BOJ Rate Hike 
Toyota to Sell U.S.-Made Camry, Highlander, and Tundra in Japan From 2026 to Ease Trade Tensions 
U.S. Stock Futures Slip After CPI-Fueled Rally as Markets Weigh Economic Uncertainty 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns 
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
Robinhood Expands Sports Event Contracts With Player Performance Wagers 
Blackstone Leads $400 Million Funding Round in Cyera at $9 Billion Valuation 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Under Armour announced on Wednesday, May 19, that it will be raising its minimum wage rate from $10 to $15 an hour. The raise will take effect in the U.S. and Canada next month.
Why UA is issuing a pay raise
As per CNN Business, Under Armour made the decision so it can retain its workers as well as hire new staff which is hard to do right now. The job market is so tight that there is actually a staffing shortage in many business sectors such as restaurants, hotels and other service-oriented establishments.
With the move, the American sports equipment company that manufactures footwear, sports and casual apparel, becomes the latest company to increase wage rates. Starting in June, the firm’s 8,000 employees where 90% work in its warehouse and store outlets, will enjoy the new pay scheme.
Amazon, McDonald’s, Walmart, Chipotle and Costco are just some of the firms that have previously committed to a pay hike for their workforce. As they struggle to find new workers to fill in vacant job posts in their companies, raising the wage is one way to lure people to apply.
“At Under Armour, direct-to-consumer is one of our biggest growth opportunities and an area that I am proud to oversee,” Under Armour’s president of the Americas, Stephanie Pugliese, said in a press release. “Teammates in our retail stores and distribution houses are our strongest asset and we needed to make a strategic decision on our hourly wages to be a competitive employer in the retail space.”
She added that the company is happy to be able to increase the workers’ minimum wage as they acknowledge the hard work of everyone in the retail and warehouse. President and CEO of Under Armour, Patrik Frisk, also said that the company is committed to doing the right thing and committed to making sure that its workforce feels appreciated and valued.
Under Armour looking to recruit thousands of staff
Amid that raise in minimum pay rate, CNBC reported that Under Armour is looking to hire new employees. Currently, it has 3,000 vacancies in its outlets and distribution centers.
The sportswear and sneaker maker is hoping that its new wage will attract more people to come and apply for work in the company. It will be hiring talents in the coming months and will announce job recruitment events at some point.
