Acme Lowers Workers' Pay To Pre-Coronavirus Rates: Report

Max Bennett

MALVERN, PA — Acme and its sister companies, all owned by Albertsons, will reduce worker pay to pre-coronavirus levels soon as the company plans for an initial public offering.

According to the Philadelphia Inquirer, the company reversed two separate $2 pay bumps that occurred amid the pandemic.

Acme employees and other sister store workers have already seen the $4 decrease in pay.

The Inquirer reports while worker compensation went back down to the pre-coronavirus levels, shareholder earning potentials have been boosted ahead of the reported. $1.5 billion initial public offer.

According to the outlet shareholders will get $228 million annually.

This article originally appeared on the Malvern Patch